Updated

BANKNIFTY--Bearish or Bullish??

The demand zone @ 43900 acts as supply zone and price falls back, below 43900 levels.
the previous demand zone @ 43450 level acts as support again and price moved back to the supply zone created at 43850 levels.
this level previously a strong sell off is observed, after strong sell of price is consolidated and moved up again.
while breaking this area we will again see some consolidation, if price opens still in this range, consolidation to downside is observed.
if 43900 -43850 level acts as resistance price will fall back to below 43300 levels.

key level of support 43100-43000.

Note::
In Higher time frame still the trend is uptrend.. keep in mind, this is the phase to observe if it is a bearish turn or bullish again .
As a expiry today, price is still in the range 43300 - 43850 range.

Note

Opens above supply zone, if failed to acts as a support we will go selling as above. fake out may happens.

Note

we have untested supply zone @44050 level, keep track this level.

Note

If price failed to break the high above 44200 levels, a strong fall is going to observe at these levels, keep look at the above levels.

Note

Note

Buy setup...... Gap at bottom may also acts as support.

Note

FII's enter into the market ,be careful.

Note

Rally Base Rally??

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