BANKNIFTY--44500 is Support or Resistance ??

Bank nifty index a continuous fall is observed from the break of major trendline without retest.

price broken the demand @44800 and 44600 levels,
the previous resistance is also failed to push the price up,
so a strong fall is observed below 44500.

Price is now exactly closed @ 44500 level, which is a strong fall area previous.
if this again pushes the price down will observe a continuous fall to bottom levels @43800 levels.
if the same resistance acts as support, price is again be bullish.

tomorrow move will decide to go further lower or higher.
until keep in watch mode.

I will do one more post on buy side setup...
I cannot mix both intraday and swing setup in a single post.
Thanks for your support and Encouragement guys.
stay tuned for more updates....

評論:

If resistance acts as support... It has to move upside..
then this will be a possibility.
we will look for buy side...at Right shoulder...

評論:

Price opened exactly at right shoulder... that is the key level...price can move any side....keep safe.

評論:

Price will gives us discount to go long....if it is a support.wait for long.

評論:

If price breaks above look for sell at neckline...

評論:

Price is at right shoulder with long tailing upwards...
be safe.

評論:

wait for long entry.

評論:

safe traders...take the entry on break and retest of neckline.

評論:

there is a chance to push it downside.

評論:

Reducing the risk to little.
broken the trendline...and gives some pullback and breaks above i will enter long.

評論:

will see in the next session what happens.