BANKNIFTY--Continuation or Reversal ??

Observations::
Today price broken the ATH again and showed a strong bullishness towards 46000....
Above ATH, we are going to mark the levels by using pivot point standard.
today it performed well above ATH.

So, on that basis i am giving the levels for tomorrow,
if we see on monthly pivots price broken the Resistance level R2 strongly.
price facing the resistance multiple times,and broken this level.
in monthly the next resistance is located at 46650 level.

Coming to weekly analysis, price broken the Resistance R4,at 46100 level....
and the next resistance is located at 46400 level.

Before continuation will it gives a pullback..or continue to move upwards.
on bottom side, a zone is formed combination of monthly resistance and weekly support.
if price again comes to this level, I am again looking for buyside...
if no chance will be on sell side to bottom levels.

All these are the pre and post market analysis, live market is entirely different. Will see what happens in live market.

Comment:

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no sign of bearishness...will see what happens at R1

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when ever market continuously moving...it will give us retracement to 50-60 zone of fibonacci...will see will get our entry.

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No entry.....Ignoring long...

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wait for the price to break below pivot point and gives us retracement to sell.

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until no short...

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It may forms head and shoulders pattern....pls wait.

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now it is moving as per the set up....i am waiting for confirmation...
on bottom side we have Strong HH, that will push too hard....so keep wait.

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with small risk....we can place our entry... No entry...pls wait .. strict SL

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those who want safe traders....pls wait.....do this.

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when again breaking the pivot you can take entry...this is the place the buyers try to make an up move...be cautious.

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pushing up pushing up.....

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price is near to our entry...
price has taken the support from Previous HH.

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wait for the price to break the trendline...

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In continuous down move...no entry for us...
now will see it gives or not.

Comment:

broken strongly

Trade active

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created one more channel

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days open is pushing up...

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safe ones pls exit....

Trade closed: target reached:

target 1 done

Comment:

move your stop loss to entry and enjoy the fall

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If day low cannot be break...will again move upside...to eliminate all sellers.

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price is again near the trendline...
will again push down..
move your sl to entry...

Trade closed manually