Banknifty important levels to watch are as follows
#Support: 44000 Sell below: 44000 only on 15 minute candle closure below the level. Target 1: 43790 Target 2: 43540
#Resistance: 44200 Buy Above: 44200 only on 15 minute candle closure Above the level. Target 1: 44410 Target 2: 44570
#Demand Zone: 43900-43960 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart.
#Supply Zone: 44360-44400 may act as an immediate selling zone, and price may reject from the region marked in red on the chart.
#Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital.
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Huge Gapdown Opening !
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3 expected scenarios. wait for candle closure for confirmation.
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Rising wedge pattern breakdown on 5 minutes timeframe. Entry below 43865 upon 5 minute candle closing.
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what a move, Thats why we should never take early entries.