IIT-Trader

BANKNIFTY--Support becomes Resistance??

IIT-Trader Updated   
NSE:BANKNIFTY   Nifty Bank Index
Bank nifty index taken multiple times support from the zone 45600-45400.
if this acts as resistance again bearishness will continue to downwards.
on top we have a resistance in the form of trendline as well....
we have chance of consolidation between 45600-44100 levels before test this zone at 44100 levels...keep safe before going long from here...
Comment:
we have consolidation on both sides...
Comment:
45000 is a good support....so don't go for short....
chance of continuation to top from this level.
Comment:
Don't go for long side....
Comment:
Monthly expiry today...keep safe on both sides...
Comment:
if possible avoid today....if price comes to the trendline look for short side...up to 44250 levels.

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