As you are seeing here after breaking down long trend it went into making declining wedge now it also broke out wedge upside. if price goes above 44516 today , then there is high chance that it will achieve all the levels and may reach 45466 within a day or two. in downside if it goes down below 44205 there is a high chance that it will test wedge's upside...
Aready three times rejected from 44000 levels , as you can see a big pattern support downside, if banknifty breaks down this support then it may easily 43300. upside trend is still pretty much at distance , if price goes above 43779 , then it may face powerful resisdtance , follow C2C asap asnd trail SL, do not leave open position without SL to upside trades.,
Long upside trend tried to break thrice but failed, it this time crosses over 43885 then it may sustaing , but it will again face extremely strong resistance from 44052m extremely high liquidity area , profit booking may again come. if it crosses down below 43664 then may go deep till 43325.
Huge long trend broke in 30 minute chart first time , it may retest its trend again. But it breaks down below -43383, you may see a deep move again , till 43042. if it test its trend with a gap up quick move and if time remains after, then you will again see a huge retracement. if it goes above 43716 and the price move will remain slow...
follow the levels and trade accordingly, it already broke a long trend in 30 minute chart, and may go down. but if takes upmove then it can sustain.
As you can see here banknifty tested 44000 resistance 4 times and broke in 5th time.and made new high. Current scenarion is also showing that banknifty tested support of 44000 , four times and may break in fifth. CON- sometimes when price test a support multiple times and do not able to break it . then it again moves above support, and it makes market...
When Eveer ATR % Reaches around 1% or below Banknifty takes huge move, most of the time downside.
Long trade broke but still taking support on 5 tops support (Pattern Support), if it breaksdown below 43975, then it may go down much deeper and acieve 43539, upside above -44312, it will face strong resistance may go in sideways.
Long trend with ascending triangle it can give you move both side, most probably long side if it breaks upside trend. if it opens at the same level where it left off and crooses over 44448, then you can go long , but keep in mind that between 44534- to 44506 is super strong resistance price may go down from here.but you can long with shifting sl to c2c asap.
Long trend , still above long trend and still above 44103 (Pattern Support - long support), But price is continuously targetting it support of 44103, if it againb breaks down below long trend and long support of 44103, then it may go down very deep and easily achieve 44002. above 44433 price may go easly to 44552, but above 44552 may be difficult.
Broad declining wedge , this type of wedge when breaks upside gives nice move, but here situation is little diffrent cause above thias wedge there is sidways area, if market opens big gap up there is a high chance that after making one or two positive candle whether it will fall or will go sideways.
As i told in my previous analysis that if price again goes down below this prvious 5 tops pattern support it will go down much lower and it went. now there is a high chance that price may again try to climb above this 5 top resistance ,today, and if it happens than you may see a good upmove. but if it crosses down below 43803, you may see 43432 level.
Price is above 5 top support which is a good sign for continuing upmove buy if price again goes down below 44151 , then it may reach to the level of 43813 , in between 44011 to 43965 is a super strong support.
If you can see banknifty attempted 5 times including current one to break its current top, if it breaks it then you can easily see banknifty touching 44627 today and 45000 coming days. but if it goes down from here and closes below current top you may see again a short term or medium term down move.
Small trend about to break below 43865 , and if it breaks then it may go much lower side.and if price takes support around 43804 and goes above 43865 again, then it may go sideways again.
Double bottom pattern if it gives break out above 44161 then it may reach 44465.double bottom patterm with a higher low tend to go much higher.
Short Broken trend upside.if price goes down again below 43611 , then downtrend may again continue. and if price goes above 43870 then it may again enter in long trend.
Follow levels , and trade with proper logic, SL is traders best freiend, don't forget to put Stoploss.