BANKNIFTY Index is taking the support of 47800 levels multiple times.
its clearly saying that a lot of liquidity is lies below this level of support.
On top side, price created a Head and shoulders pattern.
Buy side::
Case1:
If price takes the liquidity on triple bottom and fails to go down triple bottom(Resistance)
or
Case 2: Strong Confirmation
if price consolidates between the Head and Right shoulder then will wait for a confirmation breakout above the head section on a pullback to Right shoulder then only a complete bullishness is going to observe in this index.
Look for long side below the triple Bottom.
On the topside we have a trendline liquidity near Right shoulder.
its clearly saying that a lot of liquidity is lies below this level of support.
On top side, price created a Head and shoulders pattern.
Buy side::
Case1:
If price takes the liquidity on triple bottom and fails to go down triple bottom(Resistance)
or
Case 2: Strong Confirmation
if price consolidates between the Head and Right shoulder then will wait for a confirmation breakout above the head section on a pullback to Right shoulder then only a complete bullishness is going to observe in this index.
Look for long side below the triple Bottom.
On the topside we have a trendline liquidity near Right shoulder.
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Please Like, Follow and Comment
Also share your thoughts in the comments section.
Thanks for your Support **
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**If these ideas are Helpful !
Please Like, Follow and Comment
Also share your thoughts in the comments section.
Thanks for your Support **
--Educational Purpose Only--
--Not SEBI Registered--
Please Like, Follow and Comment
Also share your thoughts in the comments section.
Thanks for your Support **
--Educational Purpose Only--
--Not SEBI Registered--
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.