Nifty Bank IndexLong
Dont sell Banknifty until it breaks 49400
Updated
52600 to 52350 is the supply zone on 1h chart
we seen a rejection from that zone later we found price drops nicely from from bearish fvg
currently price is almost near to the demand zone which is at the level of 50800 to 50450
but i have to choose the pin point one level i will go with 50560 will be the area where we should wait and seek a bullish pattern or structure shift
if the price successfully hold the 50560 level we can assume that the 49400 level is going to be base formation and target towards upside around 53250
as of todays market close we dont have good space downside to get momentum short side rather than waiting for bullish impulse move
we seen a rejection from that zone later we found price drops nicely from from bearish fvg
currently price is almost near to the demand zone which is at the level of 50800 to 50450
but i have to choose the pin point one level i will go with 50560 will be the area where we should wait and seek a bullish pattern or structure shift
if the price successfully hold the 50560 level we can assume that the 49400 level is going to be base formation and target towards upside around 53250
as of todays market close we dont have good space downside to get momentum short side rather than waiting for bullish impulse move
Trade active
complete sideways inside our zoneOrder cancelled
although after reaching at our yellow line area price continued to face bearish pressure as a result the entry setup was invalid still 49660 remains key area in intraday
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