BANKNIFTY INDEX is created a Demand zone at 45450-45220 zone.
If this zone again push the price upside, leads to creates an Right shoulder..
then will observe a inverse Head and shoulders will clearly seen if the same is happens from this demand zone.
on topside(Neckline) at 46500-46700 zone is pushing the price downside, continuously.
previous support is now acting as a resistance on the topside, as I already explained.
so, now we have 2 possibilities::
Long:: Enter long when price comes to Demand Zone.
(Or)
If price consolidates between the neckline and old support level,
then we have a chance of continuation upside.
If price failed to create a right shoulder or demand zone fails to push the price upside, then
we have short plan, when price consolidates between the head and Demand Zone.
then a liquidity grab will be finished on bottom side and price is likely to test the strong demand zones at 43600 levels.
will go for short side below demand zones...
If this zone again push the price upside, leads to creates an Right shoulder..
then will observe a inverse Head and shoulders will clearly seen if the same is happens from this demand zone.
on topside(Neckline) at 46500-46700 zone is pushing the price downside, continuously.
previous support is now acting as a resistance on the topside, as I already explained.
so, now we have 2 possibilities::
Long:: Enter long when price comes to Demand Zone.
(Or)
If price consolidates between the neckline and old support level,
then we have a chance of continuation upside.
If price failed to create a right shoulder or demand zone fails to push the price upside, then
we have short plan, when price consolidates between the head and Demand Zone.
then a liquidity grab will be finished on bottom side and price is likely to test the strong demand zones at 43600 levels.
will go for short side below demand zones...
Note
we have a trendline liquidity as well near the demand zone and right shoulder.keep safe from here before long or short side.
Note
Note
Note
liquidity grab below the 45500 and then bullish may be, but keep in long side only...retest of trendline might be observed...then will see bullish continuation or bearish
Note
price breaks the channel again then retest sell.Note
its a long trap....don't go for longNote
wait for the channel break and retestNote
Breakout or breakdownNote
there are some moves....there is a bear trap as well keep SlNote
safe traders exit with 1:1Note
close the remaning at cost to cost or 1:2there might be some consolidation here....
Note
If price closes at 46300 levels buy puts.....Note
Book some here.....Note
price comes to the right shoulder area...keep safe.Note
Lets wait for tomorrow ...
**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--
" i am a IT-Trader "
Please Like, Follow and Comment
Also share your thoughts in the comments section.
Thanks for your Support **
--Educational Purpose Only--
--Not SEBI Registered--
" i am a IT-Trader "
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.
**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--
" i am a IT-Trader "
Please Like, Follow and Comment
Also share your thoughts in the comments section.
Thanks for your Support **
--Educational Purpose Only--
--Not SEBI Registered--
" i am a IT-Trader "
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.