BANKNIFTY--Which is Support,Demand or Resistance ??

The neckline broken strongly...
the trendline broken strongly....
Price opens gap down and moved to down side drastically.
Now we have 2 options, where to look for short again.
1. Neckline or
2. Trendline.

So in order to reach these 2 points, price has to reversal,
so from which zone we can expect a reversal.

If we see on bottom side,
today price has taken the support from 44800 level, and price is exactly closed in a strong fall area 45100.
If tomorrow again opens a gap down and continuously fall, and breaks 44800 level
we have to look at 2 places for buy,
one is 44600 level and
another one previous strong resistance may acts as support 44500 and pushes the price upwards.
price closed at 45100 previously it is a strong supply,
so on continuous move it pushes the price more towards downside.
If price reaches any of these 2 places look for buy,
Look for sell @neckline or trendline. No retest is observed in this places.

Note:: Price may break the trendline or Neckline and moves upwards again to reach the ATH.
So careful here.

Komentar:

Price is now turned to be sideways....wait for price reach the bottom demand or break above and gives us pullback.then will decide to go long or short.

Komentar:

If price not able to break below, and price breaks the above and gives me pullback will go for long

Komentar:

Please don't go long, as it is not breaking the low, we will get more profit...
it may break low and reverses after a long entry....
so wait....

Komentar:

End of Bearishness....guys careful.