BANKNIFTY--Continuation or Reversal ??

Jul 20, 2023

Observations::
Today price broken the ATH again and showed a strong bullishness towards 46000....
Above ATH, we are going to mark the levels by using pivot point standard.
today it performed well above ATH.

So, on that basis i am giving the levels for tomorrow,
if we see on monthly pivots price broken the Resistance level R2 strongly.
price facing the resistance multiple times,and broken this level.
in monthly the next resistance is located at 46650 level.


Coming to weekly analysis, price broken the Resistance R4,at 46100 level....
and the next resistance is located at 46400 level.


Before continuation will it gives a pullback..or continue to move upwards.
on bottom side, a zone is formed combination of monthly resistance and weekly support.
if price again comes to this level, I am again looking for buyside...
if no chance will be on sell side to bottom levels.

All these are the pre and post market analysis, live market is entirely different. Will see what happens in live market.

Jul 21, 2023

Note

Jul 21, 2023

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no sign of bearishness...will see what happens at R1

Jul 21, 2023

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when ever market continuously moving...it will give us retracement to 50-60 zone of fibonacci...will see will get our entry.

Jul 21, 2023

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No entry.....Ignoring long...

Jul 21, 2023

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Jul 21, 2023

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wait for the price to break below pivot point and gives us retracement to sell.

Jul 21, 2023

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until no short...

Jul 21, 2023

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It may forms head and shoulders pattern....pls wait.

Jul 21, 2023

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now it is moving as per the set up....i am waiting for confirmation...
on bottom side we have Strong HH, that will push too hard....so keep wait.

Jul 21, 2023

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with small risk....we can place our entry... No entry...pls wait .. strict SL

Jul 21, 2023

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those who want safe traders....pls wait.....do this.

Jul 21, 2023

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when again breaking the pivot you can take entry...this is the place the buyers try to make an up move...be cautious.

Jul 21, 2023

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pushing up pushing up.....

Jul 21, 2023

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price is near to our entry...
price has taken the support from Previous HH.

Jul 21, 2023

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wait for the price to break the trendline...

Jul 21, 2023

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In continuous down move...no entry for us...
now will see it gives or not.

Jul 21, 2023

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broken strongly

Jul 21, 2023

Trade active

Jul 21, 2023

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Jul 21, 2023

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Jul 21, 2023

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created one more channel

Jul 21, 2023

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days open is pushing up...

Jul 21, 2023

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safe ones pls exit....

Jul 21, 2023

Trade closed: target reached

target 1 done

Jul 21, 2023

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move your stop loss to entry and enjoy the fall

Jul 21, 2023

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If day low cannot be break...will again move upside...to eliminate all sellers.

Jul 21, 2023

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price is again near the trendline...
will again push down..
move your sl to entry...

Jul 21, 2023

Trade closed manually