BANKNIFTY--Retracement or Reversal ??

Observations::
After a gap up opening price is reversed immediately....
can we consider this as a buyers exhaustion...

The previous bearish gap is resisting the price to go down...
if this failed we have an immediate support in the form of resistance acts as support...
previous multiple times that price got rejected from the same zone can push the price up...
until these zones failed to acts as support, then only will go for short side...

if todays bearish move is a retracement, then tomorrow we will observe a bullish momentum again..
if it is a bearish sign, resistances failed to acts as support a strong fall is going to observe...
If today's move is strong bearish and again rejects from top will be on bearish side up to...45100 levels.
Yesterday A strong bullish move is initiated to exit all the long positions...
then it will be fall again...

we will see what happens in the live market...

Comment:

Golden zone is also located in the same area...

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the volume also more....

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Wit for the price to comes to the levels...
if breaks ATH and gives pullback we will also with momentum...
if firstly comes down...will be on bearish...on both sides fake breakout is possible ...
keep safe today..

Comment:

Lets wait we have a pivot is below ,lets break and retest..will go down..with small risk.

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price is ranging...if price moves up we look for sell at R1...
if price comes down..will see again Pivot is rejecting the price or not...then will short..

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It ha to break the trendline and gives us retracement then will go for short...until don't go...

Comment:

risk ones enter long

Trade active:

long active

Comment:

still in trade...will see what happens...
exactly reversed from the Sl Point

Trade closed: stop reached:

Comment:

Stoploss hunt is triggered...
keep safe.

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safe traders exit from long...

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option premiums are not increasing...

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Trade closed manually