BANKNIFTY--Fakeout or Breakout ??

2023年5月28日

Observations::
----->> After breaking the trendline, price tested the Resistance zone,
price is fall from resistance but not able to break the last HL, @ 43400 Level.
Again a strong buy ness is observed from these level.

Price is in consolidation @ Resistance and Support and not able to break any previous higher low, and previous Higher High

now its clear showing strong bullishness, we are still in bullishness its confirmed + In Bullish consolidation
between the Support and Resistance.



see the below picture,

If it's a Rally--Base--Rally, we will go for buying up to 45000
we have 2 possibilities,



If price breaks HH @44150 levels, Breakout happens and price falls immediately below the 44150 levels is may happens,
called fake breakout.
If price consolidate between Supply zone 43900-43850 @ and supply zone @44080-44150,
and breakout happens consider it as a fake out and we wait for the break out.



If price comes below to these levels, @43650 demand Zone and 43400 demand zone,
if price consolidates in these two zones and gives us a breakdown will wait its a fake breakout or breakdown possibility.
we have to check all these conditions in Range bound market.



In between we have a common point zone @43800-43850 that will back to the supply zone again.



The same zone @43800-43850 will pushes the downside as well.



All these are range bound Scenario's, look @ all these possibilities.

2023年5月29日

註釋

in this situation, we don't go for buying or selling, because we don't know where to place your target or stop loss. Wait wait.

2023年5月29日

註釋

2023年5月29日

註釋

coming back to the zone, with consolidation...
2nd conformation

2023年5月29日

註釋

Still in the range only....

2023年5月29日

註釋

2023年5月30日

註釋

Fake breakdown may happens Yesterday's low.

2023年5月30日

註釋

Now price again starts consolidation in this 2 zones.

2023年5月30日

註釋

2023年5月30日

註釋

We can't predict the direction right now,

2023年5月30日

註釋

weak area side price pushed fast, careful here.

2023年5月30日

註釋