BANKNIFTY--Consolidation + Upside = Fall ??

Observations::
If we see on daily time frame, price has broken the previous resistance at 44200 level, with a strong consolidation.
price moved to the upside with strong consolidation.
let us consider this as a consolidation + upside == Fall.

price is not giving any sort of retest to the previous resistance 44200 level.
If we observe a pullback towards the previous resistance, price will fall until 44200 level.
If we see a slow pullback towards 44200 we can observe a bullishness again.. from 44200.

If there a chance of huge fall from upside...
we don't have a chance of buy opportunity again from 44200 level.
price will continuously fall happens below 44200 levels,
this time 43400 level will also break. Be cautious.

On bottom side price created a demand zone @43800,will push the price towards 44200.
Here 2 possibilities, if price falls below 44200 level,43800 gives support..
if the previous resistance acts as resistance price fall happens from 44200 again.
but if the same level acts as demand will observe again a bullish up to ATH.

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If it has to continue its uptrend, it has to move like this...will see what happens.

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It's continue the momentum ...will update once it breaks...

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Observations:
1.price opened in a demand zone and failed to take the price up wards...
2.The hidden demand zone acts as support and price moves up...
3.Yesterday's demand zone resist the price to go up....and price falls back...
4.while breaking the demand zone price,
leaves a bearish gap and continue its fall till the hidden demand zone...
5.Bullish gap is still not able reach.

so we have 2 options now...
which gap fills 1.Bullish gap
2.Bearish gap.
if price opens below gap1, we can expect a immediate fall happens and fills the bullish gap2.
so becareful here,don't initiate a short as soon as opens..wait for the right oppurtunity and enter.

Based on the price opening we will decide which gap is going to fill 1st.
and also price has created its 1st low...and given us pullback to sell...
so on monday if price opens below 1st low,then its created a 2nd low,which confirms bearish sign.
then price is immediately created a lower high again...so will look for buy at that time..
then we can expect a bearish gap be finished and price may again fall,or continue moving up again.
lets see what happens on live market.

تعليق:

If supply zone acts as resistance...will go for selling...

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price is also @POI and Golden zone...wait for confirmation...before short.

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If price unable to break this...demand...will go for buying upto bearish gap...

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If wants to rise or fall ...price has to create a strong supply zone....

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the previous resistance @44500 level is broken by opening a huge gapup
then price is immediately testing the resistance with a single red candle...
tomorrow this red candle...won't allow the price to go down...
but price wants to fill the small gapup....which is left almost 55-60 points gap..

if we see from top price is continuously falling...from 45600 levels...
if tomorrow price wants to fill this gap....and gaint red candle rejecting the price downwards..
and above we have strong demand acts as resistance again...

considering all these 3 points results in a consolidation market...
in which levels these consolidation takes place...i.e from 45000-44650 levels....
what happens if price starts consolidation...
if price consolidates to test the previous resistance...
which indicates a bullishness again from 44500 levels...

تعليق:

As mentioned earlier the strong red candle that test the previous resistance is rejecting the price to go down.....

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trading in channel....wait for the breakout or breakdown....

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