Updated

BANKNIFTY-- Liquidity@47200??

BANKNIFTY INDEX is taken the support from the support level and neckline is failed to push the price downwards...

--->>price failed to grab the liquidity on bottom side, results in bullish entry is placed after it is failed.

------->>so wait for the price to consolidate between the Head and Right shoulder to move upside to test the resistances at 47200 and a liquidity grab above these levels...
Keep in long side as long as price is above 46200 levels, which is right shoulder.

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now price is near to trendline...
if opens up chance of moving upside is possible in this case...
keep in short side aslongas price is below the trendline and Right shoulder.

Note

45300 zone has to fail and retest of 45600 then only shortside...

Note

If price takes the liquidity below then look for longside... above 45600
short side view below 45200 -45300

Note

if price breaks the trendline and retest then only long...

Note

Price clears the liquidity at 45300 levels... It's time for bullish view

Note

Trendlines liquidity is also done

Note

if price closed at 45300-45200 levels...we have chance of liquidity grab below 44200.

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IIT-Trader

**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--

Also on: