Hello Traders,
Previous week was in a DOWNTREND because of the STRONG RESISTANCE AT 36615 level.
But on Friday price exactly formed a DOUBLE BOTTOM reversal pattern at the SUPPORT ZONE which is a BULLISH sign.
IMPORTANT LEVELS -----> 35000 --- 35375 --- 35600 --- 35800 --- 36120
1) If BANKNIFTY came down and took support at 35375 level otherwise if it break and retest the 35600 level GO LONG.
TARGET -----> 35800 --- 36120
2) If BANKNIFTY BREAKDOWN and retest the 35375 level it is a great opportunity for going SHORT.
TARGET -----> 35000
All levels work as SUPPORT & RESISTANCE
If market opened GAP UP or GAP DOWN wait for the price to come to the nearby level and take ENTRY based on the price action.
Do comment your thoughts...
Thank you <3
Previous week was in a DOWNTREND because of the STRONG RESISTANCE AT 36615 level.
But on Friday price exactly formed a DOUBLE BOTTOM reversal pattern at the SUPPORT ZONE which is a BULLISH sign.
IMPORTANT LEVELS -----> 35000 --- 35375 --- 35600 --- 35800 --- 36120
1) If BANKNIFTY came down and took support at 35375 level otherwise if it break and retest the 35600 level GO LONG.
TARGET -----> 35800 --- 36120
2) If BANKNIFTY BREAKDOWN and retest the 35375 level it is a great opportunity for going SHORT.
TARGET -----> 35000
All levels work as SUPPORT & RESISTANCE
If market opened GAP UP or GAP DOWN wait for the price to come to the nearby level and take ENTRY based on the price action.
Do comment your thoughts...
Thank you <3