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.
banknifty forming a failing wedge pattern if it sustains above 43782 possibly it can try break the 44132. Buy above 43786(43700 CE) Target 43885, 44005,44132 Sell below 43579 (43500 PE) Target 43465, 43333,43186
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.
Follow levels and trade , use proper sl, do not trade without sl.
Banknifty levels , trade properly , and follow levels , maintain sl properly.
Nifty 15 mins indicating M pattern or double top pattern Buy above 42875, Target 42992,43144 Sell below 42809, Target 42715,42673,72578,42441,41900