BANKNIFTY--@Trendline Retest??
Updated
I am sharing the important levels of Support and Resistance. These levels play a crucial role in trading decisions, as they act as reliable markers of price movements.
------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further.
---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher.
They serve as key reference points for technical analysis.
At the end of the session price taken the liquidity on bottom side..now the more liquidity lies on above 43800 levels...we have a strong support lies at 43300 levels...keep looking for buyside from this levels...or price may breaks this levels and reverses...keep safe here..
price recently broken the trendline ...it will retest soon...still bullishness is left...
------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further.
---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher.
They serve as key reference points for technical analysis.
At the end of the session price taken the liquidity on bottom side..now the more liquidity lies on above 43800 levels...we have a strong support lies at 43300 levels...keep looking for buyside from this levels...or price may breaks this levels and reverses...keep safe here..
price recently broken the trendline ...it will retest soon...still bullishness is left...
Note
If price consolidates between the 43560-43640 levels...then chance of breakout to topside targets are 43700,43770,43850.wait until consolidates...above 43560 levels.Note
43400-43420 zone is also a strong...keep book your shorts at this zone...exit all at 43200 zone.Note
If you want to go for shortside...wait and retest ..otherwise its bullishNote
Liquidity lies on both sides........tomorrow we have chance of both buyside and sell side...Note
price is exactly open in the zone of resistance.. don't go for buyside wait for the price to fall below 19640-19560 to enter in short side...Note
if consolidation happens here chance of bullish breakout...soo wait before shortside...Note
consider this as a retracement for gapup...no shortside...Note
wicks telling us price wants to go upside....Note
chances of breaking topside....Note
exit if price breaks below 43700 levels...Note
No shortside...it created a range...wait until it breaks the range and retest...Note
liquidity lies on both sides....keep safe...
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