IIT-Trader

BANKNIFTY--42800 or 44400 ??

IIT-Trader Updated   
NSE:BANKNIFTY   Nifty Bank Index
Price is exactly closed at support level, at this level price taken the support multiple times...
we are still having some more points in the downside @43400 level...
if that breaks we will observe a great fall towards 42800 and 42000 levels...
wait until that breaks and retest...don't go for short side immediately...
we have a great support @42800 and 42000 levels...
If support fails to push the price up, then it will continue to move downwards up to 42800 levels..
If you are looking for buy side wait until price reach to any one of these levels...
or it may rise again from 43400 levels...without confirmation don't go for short side...
Comment:
wait for price to break the support and retest for short side...
Comment:
No short side....
Comment:
As long as price is above the 43200-43150 level...
Comment:
Don't go long immediately....consolidation to more downside possible... exit at 42800 level...
Comment:
will see tomorrow....

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