Is it a "fake breakout "

Mar 3, 2023

publishing herewith a graphic with a question, please comment your opinion,

will try to give factual answer tomorrow

Mar 3, 2023

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also try to use bank nifty as an example for my educational idea, "scenario when price make a big and fast upward moves" and its updated idea

Mar 3, 2023

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again inviting all the community members to share there idea

Mar 3, 2023

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put my analysis only after having 10 comments, always like two way communication, i am really thankful to those who likes my ideas , i don't like the word "followers" , we all are members of same "trading community"' having similar vision
" learn, practice and earn", have no desired to be followed as i myself never followed anybody, having no commercial interest , always appreciate other's views

Mar 3, 2023

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only one comment?

Mar 4, 2023

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waiting for more comments

Mar 5, 2023

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well still confused , trying to make an opinion

actually Dax and Nasdax both tested ,respective yearly levels, by Monday night, will be able to get the price response

my today idea "Bank nifty and nifty a very important pattern", both have monthly triangle pattern , indicating a decisive price action by 01/04

US and European market closes in green so there is some positiveness in the mkt

Mar 5, 2023

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will give my day range after 09:10

Mar 5, 2023

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price is also forming a curve pattern, if it really wants to follow it, it would try to reach 41850(approx) level because by 9th pattern will have an end

Mar 6, 2023

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01/01/2023
price had resistance from 1 yr, 3 month and 1 month patterns, so there was no scope for upward movement.
while moving downward price breaks some very important previous higher level supports 41810/41830, price also breaches 6 month pattern support, now price is at that level
possibility 1. price could respect these supports
2. price could retest these levels and follow its downward journey

we are in the last month of 3 month candle, so will have some probable range for next 3 month candle 42910-38508,36683, so if price really wants to move down it will definitely try to reach 38500 level before the end of this month

last week price respected the weekly dozi so opening around 41260 will give it some support than 41530-41570 a resistance zone, upside weekly levels, 41627/41728/41836/42015

actually 41836 is a very important level

price opening above day mid bollinger could give it some support
resistance from weekly 10 & 20 MA

we have some MA close-up pending in 1 hr,2 hr and 4 hr
opening of market will give actual scenario

price is near 1 hr , 2 hr and 4 hr upper bollinger, so opening becomes important

if it is not a fake breakout, we will surely get some levels tested
if i it fails , will provide important weekly and daily levels
in daily time frame price closed above an important price line but below a consolidation zone,

Mar 6, 2023

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41395 approx imp. there is triangle formation in bank nifty 15 min chart
shared through mind section

Mar 6, 2023

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today it is all about moving averages, dozi and Inside candle
on last Friday a weekly dozi acted as resistance for the price, today also it came into picture
41677,41265 and 41258 are the high , open and close levels of that dozi, price opened above the dozi ,which acted as a support, as already told, close-up of some MA's was pending , which has been completed today.

In nifty we have major MA's close up today, right from 30 min to day level, that's why , nifty was showing strength, again price opened above a support level and got resistance from a weekly dozi and also from a weekly inside candle

Mar 6, 2023

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after my latest bank nifty idea , what is your view now