Bank Nifty
Price just bounced from the very important weekly resistance turned support line, also it is inside the daily demand zone... There can be 2 scenarios
1. Price might bounce back from SnR level and turns into bullish or
2. Price might broke the SnR line continue its original bearish order flow
Its is important to note that there are 2 GAP / imbalances there inside the demand zone which may be good reversal point for longs
Further 4HR demand zone might work as strong support level... Over all i believe market gonna be bullish tomorrow we can expect Sell to Buy setups
1. Price might bounce back from SnR level and turns into bullish or
2. Price might broke the SnR line continue its original bearish order flow
Its is important to note that there are 2 GAP / imbalances there inside the demand zone which may be good reversal point for longs
Further 4HR demand zone might work as strong support level... Over all i believe market gonna be bullish tomorrow we can expect Sell to Buy setups
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.