BANKNIFTY--Which is Support,Demand or Resistance ??
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The neckline broken strongly...
the trendline broken strongly....
Price opens gap down and moved to down side drastically.
Now we have 2 options, where to look for short again.
1. Neckline or
2. Trendline.
So in order to reach these 2 points, price has to reversal,
so from which zone we can expect a reversal.
If we see on bottom side,
today price has taken the support from 44800 level, and price is exactly closed in a strong fall area 45100.
If tomorrow again opens a gap down and continuously fall, and breaks 44800 level
we have to look at 2 places for buy,
one is 44600 level and
another one previous strong resistance may acts as support 44500 and pushes the price upwards.
price closed at 45100 previously it is a strong supply,
so on continuous move it pushes the price more towards downside.
If price reaches any of these 2 places look for buy,
Look for sell neckline or trendline. No retest is observed in this places.
Note:: Price may break the trendline or Neckline and moves upwards again to reach the ATH.
So careful here.
the trendline broken strongly....
Price opens gap down and moved to down side drastically.
Now we have 2 options, where to look for short again.
1. Neckline or
2. Trendline.
So in order to reach these 2 points, price has to reversal,
so from which zone we can expect a reversal.
If we see on bottom side,
today price has taken the support from 44800 level, and price is exactly closed in a strong fall area 45100.
If tomorrow again opens a gap down and continuously fall, and breaks 44800 level
we have to look at 2 places for buy,
one is 44600 level and
another one previous strong resistance may acts as support 44500 and pushes the price upwards.
price closed at 45100 previously it is a strong supply,
so on continuous move it pushes the price more towards downside.
If price reaches any of these 2 places look for buy,
Look for sell neckline or trendline. No retest is observed in this places.
Note:: Price may break the trendline or Neckline and moves upwards again to reach the ATH.
So careful here.
Nota
Price is now turned to be sideways....wait for price reach the bottom demand or break above and gives us pullback.then will decide to go long or short.Nota
If price not able to break below, and price breaks the above and gives me pullback will go for longNota
Please don't go long, as it is not breaking the low, we will get more profit...it may break low and reverses after a long entry....
so wait....
Nota
End of Bearishness....guys careful.
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Also share your thoughts in the comments section.
Thanks for your Support **
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