BANKNIFTY--Expiry is Bullish or Bearish

Observations::
we have previous resistance at 45300-45350 zone...which is strong.
yesterday price tested the demand acts as supply zone and falls below...
if this zone 45300-45350 acts as resistance price falls again..
if we want to short wait until price breaks 45000 level,
and retest or pullback to previous demand zones...
then enter for short for target of 44800,bullish gap.
No long is suggested...will have strong resistances...

Comment:

price opens gap down....lets wait for the price to break below 45000 and sell on retrace for the target of bullish gap. until don't go for short.. ass it is in uptrend in higher time frames...at any time may reverse.

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Comment:

price is now enters into consolidation between 45160 to 45000 level...wait for breakdown and retest.

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Comment:

it is still in the range

Comment:

price is now at supply zone....don't go long.

Comment:

price is at our POI level...for sell side.. will wait for confirmation.

Comment:

waiting for confirmation...

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this zone has to fail for short entry...

Trade active:

long entry

Comment:

keep target 1 @ 45360 and SL at 45175

Comment:

If price creates a supply will do reverse trading....lets hope for the best.

Comment:

more confluence...broken the channel and retested.

Trade closed: target reached:

Comment:

waiting for target 2

Comment:

changing my stoploss to entry point.

Comment:

If my trailing stop loss hit....will go for short side on trendline break and retest.