BANKNIFTY--Case1 or Case2 ??

BANKNIFTY is now at golden zone of fibonacci.
we have 2 possible cases here,
case1::
It may reverse from golden zone.
(or)
case2:: After strong bearishness today given some retracement, to enter short side continuation.
If price consolidates , price fall continue towards bullish gap on bottom side.
Keep safe here, volatility is more in this scenarios.

Kommentera:

Before Budget these bullish and bearish moves are common.
If price consolidates between the zones from 47000-44500 levels, after budget price gives rally to topside...
Be careful until Budget.

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the current situation of Bank nifty is in Bullish correction phase.

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No short side

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wait for long side...break and retrace then enter long

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if there is no break above, bottom side liquidity will be finished...safe before long.

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trendline is pushing up...

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Exactly opens in the zone of resistance.. There might be some push to the top side... Later it may again fall back... Keep safe before long

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Price is exactly in the zone of support.... Keep safe before short from this level

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44150 -44200 is a good support... Keep in long side from here