BANKNIFTY--Consolidation or Bullish ??

8 Jan

BANKNIFTY is rejected from the main channel and fall happens...
we have detected a break below the secondary channel as well.
If tomorrow price opens gap down or consolidation happens below 47400-47000 levels then liquidity will be clear on bottom side @47000 levels.
If tomorrow again opens up and we have a chance of continuation to upside for the retest of secondary channel and may fall back again.
Price is slowly creating a down ward channel, keep safe from these levels.
Rarely, If consolidation happens above the secondary channel then it will again test ATH levels..

8 Jan

Catatan

If consolidation happens above channel will have a possibility of test ATH.

9 Jan

Catatan

Drop Base Drop is observed...price exactly opens near to the base.. Base may push upside or downside...
Keep safe here...

9 Jan

Catatan

If price is unable to push upside from this zone high, then it will goes down...
wait until base push down or upside...

9 Jan

Catatan

if price again comes back to the day high and retrace enter long...by keeping SL at Base High.

9 Jan

Catatan

Keep in long side...it may test base low again....