BANKNIFTY--Trending or Range ??

Updated

the Banknifty index is still in range...
Price is continuously rejecting from the level @45100...
today after a strong fall price stopped its bearish momentum...and
price closed in the same range again...

If tomorrow price breaks the 44700 level...will be on buy side up to trendline and 45100.
If price wants to breaks this strong bullish momentum it has to break with either gap down or consolidation to bearish.
Until price breaks this level 44300 level keep on bullish...

On upside we are still pending with the retest of major trendline...

Keep track this trendline...if resist the price to go up will get good point.

will see in the next session what happens...

Note

The end of bearishness ....but don't go long

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we don't have confirmation....as this is yesterday's continuation...

Note

wait until price breaks the trendline...before long.

Note

until don't go long....it may again continue its direction...be safe.

Note

Inverse Head and shoulder may comes...will see

Note

don't go for short

Note

Enter long on break of this..

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safe ones avoid...It is a risk one.

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If any one wants to change thier stoploss change it to below neckline...

Note

Its revolving around entry point....

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Its being risky...take care of good ones.

Trade closed: stop reached

Note

Hitting the retail traders stoploss and moving back....

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I am entering long again.

Note

there is a chance that same level again push it down...keep safe.

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No more trades for today....as it is very volatile....leave for the day.

Note

price is at important level..

IIT-Trader

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