IIT-Trader

BANKNIFTY--Break @ATH or Reversal ??

IIT-Trader Updated   
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.

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

**If these ideas are Helpful !
Please Like, Follow and Comment
Also share your thoughts in the comments section.
Thanks for your Support **
--Educational Purpose Only--
--Not SEBI Registered--
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.