#Banknifty Trading Near Important Support Zone

On Daily Timeframe, BANKNIFTY trading at important support zone. Time to wait for either breakdown or reversal for the Banknifty.

Case 1: Consolidation Move
- Banknifty can consolidate near this support level before the strong movement
- Consolidation zone is nearly 500 points from 44000 to 44500 level

Case 2: Breakdown Move
- Confirmation for breakdown will be if Banknifty starts trading and sustain below 43500 level
- Downside rally nearly 2500+ points expected in case of breakdown
- Intermediate support expected near 42500 level
- Short Trader can place there stop loss if banknifty starts trading above 44550 level

Case 3: Long Side Move
- Long side movement expected in case banknifty starts trading and sustain above 44550 level
- Above this level banknifty can go upto the 46400-46500+ level.
- Intermediate resistance expected near 45500 level
- Long trader can place there stop loss if banknifty starts trading below 43500 level.

To be continue. We will keep posting next update in comment section....

ความคิดเห็น:

Breakdown of support level. Sharp Downside Expected in market

ความคิดเห็น:

43050 Made Low

ความคิดเห็น:

Below 42500 @1st target reached