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Bankniftylevels

BANKNIFTY--Enters in to Consolidation ??----------->>the stock is trending upwards in daily time frame. now the price is facing resistance 44000 levels. ------------>> We will wait for the price to break the range for confirmation of the trend of bank nifty, still it is in bullish trend. ------------>> Yesterday the price is in ranging. ------------>> the previous supply zone@43900-43850 clearly resisting the price to go down. ------------->> the previous demand zone @43450-43400 level failed to take the price above 44150 levels. ------------->>If price clears both these supply and demand zones , price heavily falls below 43400 levels and reach to 43100-43000 levels. ------------->> Keep track these zones, will the range be broken or not. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- If price breaks 44150 levels, we will observe again bullishness in bank nifty will take to new levels. be careful here false breakouts may happen at these levels. Now the plan C is working, may plan B also be possible. Manipulation and turning back again to below.
NSE:BANKNIFTY
by IIT-Trader
BANKNIFTY--Bearish or Bullish??The demand zone @ 43900 acts as supply zone and price falls back, below 43900 levels. the previous demand zone @ 43450 level acts as support again and price moved back to the supply zone created at 43850 levels. @this level previously a strong sell off is observed, after strong sell of price is consolidated and moved up again. while breaking this area we will again see some consolidation, if price opens still in this range, consolidation to downside is observed. if 43900 -43850 level acts as resistance price will fall back to below 43300 levels. key level of support 43100-43000. Note:: In Higher time frame still the trend is uptrend.. keep in mind, this is the phase to observe if it is a bearish turn or bullish again . As a expiry today, price is still in the range 43300 - 43850 range.
NSE:BANKNIFTY
by IIT-Trader
BANKNIFTY--Expiry above 43600 or below 43000 ??Observations: BANKNIFTY--showing bearish pressure after opening gap up, falls below 43000, clearly showing 43000 is not a support ,with the help of 43000 price again tested the supply zones @43500-43600. ----------->>If tomorrow again showing bearish pressure @43600 levels, go for selling below 43350 levels for target of 43000,42850,42500 levels. ------>> Price range between 43600 below and 43850 levels. ----------------------------------------------------------------------------------------------- If price consolidates between 43400-43600 levels, price will go up.
NSE:BANKNIFTY
by IIT-Trader
BANKNIFTY-- If 43400 resist,43000 will acts as Support?? Observations: ------->>After A strong fall price showing bullish movement towards 42400 levels, -------->>Previous strong resistance @42700 acts as support and showing bullish pressure towards 43000,43400 levels. ------->> If 43400-43350 level acts as Resistance(Previous Demand Zone) price will again fall from this level. --------->>previously Strong rise happens from @43400-43350 levels, also be careful at this level before long will again see some bearishness in this zone. note: Tomorrow mostly price consolidates between these 2 levels. If 43350-43400 level acts as resistance ,and the zone @43000-43100 previous resistance(If turned to support),then only price is bullish again. If 43000 level failed to acts as support, price again fall back to below 42700 levels . Careful at these levels.
NSE:BANKNIFTY
by IIT-Trader
2
BANKNIFTY--42700-42650 acts as Support??Observations: After A strong fall price mostly enters into consolidation stage. Previous strong resistance @42700 broken and showing bullish pressure towards 43000,43600 levels. (Price broken the 42700-42650 zone to downside and closes inside this zone.) If the same level acts as support price will again rise from this level, Strong fall happens from @43200-43100 level also be careful at this level before long will again see some bearishness in this zone. Try to be on the long side from 42700-42620 levels to reach 43000-43200 levels. Go long: Above 42850 to reach 43000,43100 levels. Short: Don't think of Short now. be on short side from 43200 levels up to 42850,42700 only. price breaks 42620 and gives retest go short for 42400 levels.
NSE:BANKNIFTYLong
by IIT-Trader
1
BANKNIFTY--Bullish again from 43500??Observations: ------->> We have a Untested Supply zone @43800-43900 level , price have to give respect to this level. Keep long until this level only. --------->>BANKNIFTY again showing bullish pressure at the end of the session, and broken the previous resistance @43500-43600 level , if this level which is previous Resistance if acts as support price is bullish up to 43800-43900 level only. --------->>Go Long : If price comes back to 43500, go long for targets of 43800-43900 level. Price reversal from this zone(43800-43900) but overall momentum is still positive only, wait until further price action to be noticed. Gap downs may also occur at this level be careful here. Short : Don't think of short now, look for buy @43500-43600 level. Until price breaks 43500-43460 level, and the same level acts as resistance then only we have a sell possibility. Keep on long from 43500 to 43900 level.
NSE:BANKNIFTYLong
by IIT-Trader