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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-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
Is the US30 Rally Coming to an end??The last two days have been highly bullish, wouldn't you agree? Just enough to get buyers off their wallets to deliver a devastating blow. Last week we successfully sold US30 for 500 pips. I expect more of the same this upcoming week. I've Identified 5 Different Structures that give us a price cluster, at a significant market level. Details Below. Structure 1 S1 from swing high 34889 to swing low 31426 is the largest structure we used to capture the .618 Retracement. Structure 2 S2 from swing high 34498 to swing low 31426 gives us another .618 Retracement . Structure 3 S3 from swing high 33582 to swing low 31426 gives us the .786 - .886 retracement zone . (Only using the .886 as a part of the price cluster.) Structure 4 S4 from swing high 32992 to swing low 31426 gives us the 1.272 extension Structure 5 S5 from swing high 32765 to swing low 31727 gives us the 1.618 extension We have been experiencing a lot of market volatility and had some consolidation the last few times price was at these levels. As always respect your risk and be patient with your entries. I took a more conservative entry because there are significant levels above the price entry. In case markets get wicky I would like to stay in it. Good Luck STOP LOSS: 338876 ENTRY: 33570 TARGET: 32823 Was this helpful for you? If so like and comment! If not, please share with me how you feel these ideas can come across more clearly. Happy Trading
UShort
by LevelsArchitect
1