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Bankniftyview

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--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
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
BANKNIFTY-Which is Support Trendline or 43000 ??Observations: -----> After Strong breakout from 43000,price opens gap up means buyers want to take the price to higher levels. ------> Gap up + Consolidation at 43500 is observed. price is moving downwards, means price wants to go upside test of demand zone at 43000 breakout. -------> If it is a false breakdown at 43350 level, and price moves again upside, look for sell at 43500/43600 level false move to upside may be happens. -------->If trendline or 43000 acts as a support , chances are more for breaking the strong resistance at 43600 and reach the price towards 43850-43900.
NSE:BANKNIFTY
by IIT-Trader
1
BANKNIFTY-Trendline Holds or Buyers Exhausted?? BANKNIFTY has been on an upward trend for quite some time now, but it seems like it may be time for a correction at the strong resistance level of 43600. Observations: ----->>However, the trendline is currently acting as a support and the price is still moving up. ------>>Just yesterday, the strong resistance at 43000 was broken, so it's possible that it may now act as a support level. ----->>If the price falls below 43000 again, it's uncertain which level will hold. Which Level Holds: In the past, the price faced difficulties going up at 42700 and failed. But now, that same level may act as support to go higher. It's recommended to stay on the long side until the price breaks below 42700. -------->> If price breaks 42700 and facing resistance @43000 or 42850 level and again breaks 42700 , go for short 42500,42300,42000.
NSE:BANKNIFTY
by IIT-Trader
1
BANKNIFTY -- Reversal @ 43000 or 43600.At 43000, we have encountered one of the most formidable resistance levels, as evidenced by a prior strong sell-off. Despite Bank Nifty's upward trend, the question remains whether the price will surpass this resistance or experience a reversal. So far, no bearish momentum has been detected in Bank Nifty, indicating that buyers are likely to propel the price to an untested supply zone at 43600. However, it is significant to note that a pullback or retracement is expected at the 43000 level, which we will monitor closely. Note : fake breakouts may happens at this level, be careful at this level. Buy plan: if price breaks 43100 and pullback to 43000 levels then go for buying up to 43210,43300,43470. Sell Plan: if 43000 breaks and observe a fake breakout and falls below to this level and again 43000 level acts as resistance go for selling targets are 42800,42700,42620. we have Strong support at 42400-42350 levels. Consolidation Levels : 43100-42800
NSE:BANKNIFTYLong
by IIT-Trader