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Bankniftytomorrow

BANKNIFTY--PlanA Or PlanB Or PlanC ??Observations: NSE:BANKNIFTY price is clearly in a range between the demand zone and supply zone. its clearly a range bound market. we are still in the uptrend only, in bank nifty ,no sign of bearishness in the market at all time high also. price broken the demand zone at 43950,closed above the demand zone. and tested the supply zone forms at 44120 levels. now we cannot decide the momentum of the bank nifty until further price action is to be identified. If supply zone breaks and showing some sign of bullishness, we need to aware that at ATH we can expect a falls breakout moments as well @44150 levels. price showing bearishness but it will not create any fresh lows. until it creates a fresh lows keep in the same direction of market trend. Note:: price is below Supply zone, price clears demand zone, as per the trend we need to listen to market momentum, its clearly in uptrend. Price at any moment can its change its direction from bearish to bullish, as higher time frame is bullish. Plan A:: Breakout continuation Plan B: Fake Breakout. Plan C:: Gap down and reversal to supply zone and falls back.
NSE:BANKNIFTY
by IIT-Trader
2
BANKNIFTY--Last push towards 44K or 1 left ??Observations:: ---------->> the previous supply zone clearly resisting the price to go down , witnessed buyers succeed this time to take the price to higher levels. ---------->> Hence the price is closed @43900 levels. If tomorrow price breaks 43400 level, we will observe a strong fall towards 43000,43100 levels ---------->> we have an untested demand zone @42200 will push the price upwards again to 43400 or 43600 (this will resist the price to upside again) gives pullback. ---------->> Be careful at 43000-43100 levels. -------------------------------------------------------------------------------------------------------- consolidation + up move = fall again ,if price opens ((or falls)) below 43600 levels, look for sell opportunity at 43400 to 43600 levels.
NSE:BANKNIFTY
by IIT-Trader
BANKNIFTY--Bearish Turn or Bullish ??Observations:: ---------->>Price opened gap up and observed a strong fall with consolidation. ---------->> the previous supply zone clearly resisting the price to go down, witnessed buyers failed to take the price to higher levels. ---------->> Hence the price is still closed in the range of 43600-43400. If tomorrow price breaks this level, we will observe a strong fall towards 43000,43100 levels, if price again breaks 43000 levels, 42850 level acts as a pullback to 43000-43100 level, at this level previously strong sell off is observed, here(43000-43100) if again strong push to the down side happens price falls below 42850,up to 42400 levels. ---------->> we have an untested demand zone @42400 will push the price upwards again. ---------->> Be careful at 43000-43100 and 42500-42400 levels. -------------------------------------------------------------------------------------------------------- consolidation + gap = fall again ,if price opens above 43600 levels, look for sell opportunity at 43800-43900 levels.
NSE:BANKNIFTYShort
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--43400 Acts as Resistance??Observations: ------->> After Opening Gap down --------->>BANKNIFTY again showing bullish pressure towards 43500, if 43360 level which is yesterday's Support if acts as resistance price is bearish again. --------->>Go short : If price breaks 43200 again, go short for targets of 43100,43050. we have a demand zone @ 43000 may again acts as support. ---------->> Expiry may limit the price movement towards both side ,price is consolidates between 43500-43040 levels.
NSE:BANKNIFTY
by IIT-Trader