BANKNIFTY--Trending Up or Down ??

Updated

The bank nifty index, entire day price is trading in a range.
Tomorrow we can expect a breakout or breakdown.....
On top side if price breaks the 45100 level and gives us retest will go for long.
on bottom side if price breaks 44600 and retest will go for short side...
at triangle breakdown or breakout no entry will be placed...
fake out may be possible after a consolidation.
One more point after a strong consolidation price is going down means we can expect a strong upside momentum.
careful here.
Today price has taken the liquidity on both sides...eliminating both buyers and sellers.

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don't forget the right shoulder and Neckline.

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price is still in range. wait for up or down.

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wicks showing us bullish pressure....

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Don't go long...its manipulating.

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wait for break and retest...

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just broken.

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If it is a continuous bullish, will enter on long ,if gives retracement.

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Strong reds are approching the zone ignore long.

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this helps a lot....i think.

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if this trendline acts as support and again breaks high Enter long.

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If this again rejects i will go for short entry....keep look at this level.

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now price is at my POI for sell.need cinfirmation

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this time if it is bearish our entry will be triggered.

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I am taking the entry to little upside...on break of this low my short triggered.

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Consolidation + price moves upside.... confirmation of sell side...
looking for reversal setup....near its trendline

strong bullishness failed to take the price up.

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so waiting for short....

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failed to break below.

Trade closed manually

Our stoploss won't hit....targets won't hit....
will see in next session.

IIT-Trader

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