BANKNIFTY@ Breakout or Consolidation??

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observations::
--------->>Price is still in the range only, 44200- 43600 range only. we cannot predict the next momentum until price breaks this range.
------->>until keep in the buy side from 43400 and sell side from 44200 levels.

Use the principle range bound market, buy @ support and sell @ Resistance.


If we see the same chart in different way it looks like this,
Broken the trendline and retest of the trendline and falls below the resistance.
again rise from the support @43400 levels.
Until price breaks out of the range, we can clearly consider the BANKNIFTY is bullish in higher timeframes. so we are looking for buy opportunities only.



If we see clearly today price exactly closed @ resistance previous support may acts as resistance, and if price falls to below levels @43400 again will go for buying, because price is in range, for target of 44200 only.
if price breaks and gives retest will go for sell. Fake breakdowns and fake breakout may also happen.

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Hence price is in consolidation, wait for breakdown or breakout of 2 zones.

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Today we will see a slow momentum...

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Check the multiple time frame analysis, gives you more possibilities.

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Price wants to go up .... possibility is there.

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أغلقت الصفقة: تم الوصول للهدف

Long side Done. Now waiting for reversal or continue

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waiting for next move.