Hello Traders,
Today BANKNIFTY gave a GAP UP opening above the previous week high.
But it can't BREAK the 35800 level, As the PRICE CONSOLIDATES near that zone for the whole day making it a very strong zone.
***** NOTE : Whenever PRICE consolidates and give a BREAKOUT it gives Strong movement towards the breakout side. *****
So, tomorrow we will ENTRY only after the BREAKOUT of that consolidation.
Even when the 35800 level was a strong RESISTANCE today price never reversed but it CONSOLIDATED there so it may be sign of some bullishness today.
1) GO LONG only after 35800 level breakout & retest.
TARGET ----> 36155
2) GO SHORT only when 35375 level breakdown & retest
GAP FILL may happen which will be our ADVANTAGE.
TARGET ----> 35000
Do comment your thoughts...
Thank you <3
Today BANKNIFTY gave a GAP UP opening above the previous week high.
But it can't BREAK the 35800 level, As the PRICE CONSOLIDATES near that zone for the whole day making it a very strong zone.
***** NOTE : Whenever PRICE consolidates and give a BREAKOUT it gives Strong movement towards the breakout side. *****
So, tomorrow we will ENTRY only after the BREAKOUT of that consolidation.
Even when the 35800 level was a strong RESISTANCE today price never reversed but it CONSOLIDATED there so it may be sign of some bullishness today.
1) GO LONG only after 35800 level breakout & retest.
TARGET ----> 36155
2) GO SHORT only when 35375 level breakdown & retest
GAP FILL may happen which will be our ADVANTAGE.
TARGET ----> 35000
Do comment your thoughts...
Thank you <3