BANKNIFTY--Head & Shoulders Pattern??I am sharing the important levels of Support and Resistance. These levels play a crucial role in trading decisions, as they act as reliable markers of price movements.
------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further.
---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher.
If price breaks the support, we have a chance of filling the bullish gap, soo keep in shortside until it touches bullish gap and keep in short side until price is below right shoulder,if opens GapDown look for short when it comes back to right shoulder.
Take a look at these levels and trade accordingly. Recognizing and respecting these support and resistance levels can help traders make informed decisions and manage risk effectively. They serve as key reference points for technical analysis and are vital tools in successful trading strategies.
Trade safe...Thank you guys for your support
