Banknifty--@What is Resistance (S or T)??

Jan 26

Banknifty index is clearly broken the support @47000 zone.
Price recently broken the longer term trendline as well..
Now price is trading near to support zones at 44500 minor support zone and
43500-43200 major support zone.

Short Opportunity::
Enter the short positions when price tap into this resistance zone(Support) or facing resistance from trendline.look for short opportunities from this zone.

Long Opportunity::
Enter long positions when price tap into the major support zone.looking for long opportunities from this support.

Case:1
We have a resistance in the form of support @47000.

Case:2
We have resistance in the form of trendline.

Jan 30

Note

price is near to the trendline resistance...
if there is no downward pressure, from this line, then it will test the upper zone...
or wait for shortside...

Jan 30

Note

no clear direction in Banknifty...rally base rally or rally base reversal...wait for clear direction...liquidity lies below the base and above the base...
fake out on both sides possible.

Jan 30

Note

45000 is the key zone to push upside or downside...
here are the important levels to mark...

Jan 30

Note

breakout or breakdown

Jan 30

Note

still in the zone of consolidation