BANKNIFTY--Inside Candle + Upside = Fall ??

Jul 21, 2023

After Showing strong Bullish Pressure towards new ATH, price showing strong bearish pressure.
price also forms a inside candle, and yesterday shows a strong bullish momentum again.
if this bullish momentum sustains...or falls again.

Considering that inside candle as consolidation at Previous ATH levels,
and shows us a bullish momentum, so if we consider this as
Bearish Pressure + Consolidation + Upside = Great fall.


if we observe after breaking the trendline no retest is observed in higher timeframes,
a strong bullish move is observed from 44700-44750 levels.

if price failed to take the help of previous HH, and bottom side Demand fails,
we can expect a strong fall.


Will see what happens in live market...
Thanks for your support.

Jul 21, 2023

Note

price taken the support from previous ATH and moving up...if failed to move up, fall is observed.

Jul 22, 2023

Note

Jul 24, 2023

Note

Price taken the support from HH, if failed to break highs...will plan for short action.

Aug 2, 2023

Note

Hence proved.......