BANKNIFTY--Case1 or Case2 or Case3??

The yesterday supply zone clearly resisting the price to down, after breaking the supply zone price reached the demand zone that form today.
clearly the price is bullish again, still no sign of bearishness in the BANKNIFTY.
Consolidation + Downside movement = Bullish again

All the banking stocks are near its supply zone, SBIN,HDFCBANK @ Demand zone, Axisbank at Supply ready to test, ICICI In bullish channel,
witness clearly in buyside, let's see what happens tomorrow.

Case 1::
if tomorrow opens gap down and clearing demands and price again comes back to the supply we will go for sell in bank nifty.

Case 2::
If price is again bullish from demand zone, will be on buyside above supply zone candle, it may reject again, until all time high.

Case 3::

if price rejects from supply zone and not able to go below demand again buyside until ATH.

This Post is Helpful Pls Like It, It give me Motivation. Thanks

Note

observe the reaction at this zone

Note

this is the momentum changing area, keep watch this level.

Note

yesterday strong fall happens in this area, may push the price again.

Note

Fast move may possible. Be safe

Trade closed: target reached

Now it is in demand zone, will see weather its giving support or not.

IIT-Trader

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