BANKNIFTY--Consolidation + Down = Up ??

Observations::
---->> A strong bullish momentum is observed from this zone...43400 level...
---->> To reach this zone 43400 level from resistance price is approching with strong consolidation.

---->>if this zone again acts as support,will be on buy side until the Base low 43900, Base High 44200 only.
---->> Drop-Base-Drop formation is observed.
---->>If the base resist the price, to go upside...will again observe a fall below 43400 levels...

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if price breaks below this zone...not able to go upside...will be on sell side.

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Trade chiuso: obiettivo raggiunto:

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If price breaks this level @43680 and not able to go upside look for sell.

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today mostly price is in consolidation between the zones 43960-43700 range again. will wait until these breaks

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If price wants to continue upside, it has to reversal from this 50-60 % zone, and is not able to go above yesterday high, will plan for sell action.

Commento:

the previous zone @43960 will resist this will break.

Trade chiuso: obiettivo raggiunto:

1 zone target done...

Trade chiuso: obiettivo raggiunto:

2nd zone also be done...will see if price breaks 43700 or pullback to 43880 level.

Commento:

If trendline failed to act as support price fills the Bullish gap

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If it is a rally base rally, price breaks the 43400 level.

Trade chiuso: stop raggiunto:

long stopped.

Commento:

going for plan B, price broken the zone and give retracement will sell target of gap area and below.

Commento:

price came ...but wait there is a possibility that push again.