Banknifty--@What is Resistance (S or T)??

Banknifty index is clearly broken the support @47000 zone.
Price recently broken the longer term trendline as well..
Now price is trading near to support zones at 44500 minor support zone and
43500-43200 major support zone.

Short Opportunity::
Enter the short positions when price tap into this resistance zone(Support) or facing resistance from trendline.look for short opportunities from this zone.

Long Opportunity::
Enter long positions when price tap into the major support zone.looking for long opportunities from this support.

Case:1
We have a resistance in the form of support @47000.

Case:2
We have resistance in the form of trendline.

ความคิดเห็น:

price is near to the trendline resistance...
if there is no downward pressure, from this line, then it will test the upper zone...
or wait for shortside...

ความคิดเห็น:

no clear direction in Banknifty...rally base rally or rally base reversal...wait for clear direction...liquidity lies below the base and above the base...
fake out on both sides possible.

ความคิดเห็น:

45000 is the key zone to push upside or downside...
here are the important levels to mark...

ความคิดเห็น:

breakout or breakdown

ความคิดเห็น:

still in the zone of consolidation