BANKNIFTY - chart indicating a silence before the storm

2023年6月25日

Banknifty has been consolidating in a narrow range of 800-1000 points for the past one and a half month. It has established a major support zone around 43400-43500, acting like a strong wall which bears are finding tough to break. More often than not such narrow range consolidations at the top are mainly followed by a swift upside rally.

Considering all the present scenario, it can either go for path A or B. It can either accumulate buyers at this support level and eventually break through the resistance and give a rally, choosing path A or it can trap the sellers by breaking below 43400 major support and then go up after trapping sellers(LIQUIDITY HUNT) choosing path B.

2023年6月29日

註釋

Going exactly as per the plan. It accumulated buyers at the support level and soared up. Nearly 2.5% gains from our levels in 3 days.

2023年7月6日

註釋

2000 points and running. It was a hell of a breakout.

2023年7月19日

註釋

It did carnage and is all set again to break the barriers.