BANKNIFTY-- If 43400 resist,43000 will acts as Support??

8 May 2023

Observations:
------->>After A strong fall price showing bullish movement towards 42400 levels,
-------->>Previous strong resistance @42700 acts as support and showing bullish pressure towards 43000,43400 levels.

------->> If 43400-43350 level acts as Resistance(Previous Demand Zone) price will again fall from this level.
--------->>previously Strong rise happens from @43400-43350 levels, also be careful at this level before long will again see some bearishness in this zone.

note:
Tomorrow mostly price consolidates between these 2 levels.
If 43350-43400 level acts as resistance ,and the zone @43000-43100 previous resistance(If turned to support),then only price is bullish again.
If 43000 level failed to acts as support, price again fall back to below 42700 levels. Careful at these levels.

9 May 2023

Not

look at this level @43500-43550

9 May 2023

Not

Consolidation+ Opens gap up = Fall

10 May 2023

Not

Price exactly opens below resistance, wait for confirmation ,closing must be important, above 43350-43400 to go long.

10 May 2023

Not

Look at the reaction at these zones 42850-42900