IIT-Trader

BANKNIFTY--Break @ATH or Reversal ??

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NSE:BANKNIFTY   Nifty Bank Index
---->> The index is trending upwards.
----->> until price breaks demand zone@43500-43350 level, no sign of bearishness in the BN.
----->> The demand created @ 43600 have a chance to take the price above 44200 levels, careful here short.
----->> After taking the support from these levels, price is not moving above the 44200 levels.
yesterday showing bullish pressure @43600 levels, if it will continue to move will see a new highs above
@All time highs.
@ This level, sellers aggressively try to push it downwards.
If buyers failed to take above levels, causing a break below 43500-43350 levels, sellers will take advantage of it causing break of bullishness.
Consider only a short term downtrend.


------->> Fake outs may possible @44200 levels, keep track this levels.

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Consolidation + Upside = Chance of reversal
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Risky trade...
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No strong Sellers....thinking
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manipulation happens at day high also.....keep look
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If price wants to break the demand, it will break strongly, strong push may happen
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if momentum is strong and a continuous fall is happens up to 42800 levels. Be cautious.
It will finish in 1 move.
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Banknifty same story.....Still in range
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It will break above or Below

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Feragatname

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