BANKNIFTY-- Right shoulder forms??
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As we discuss in the previous post...
If Right shoulder forms to push the price up...or Will it take the liquidity on bottom side...
which happens will see in the next session.
If Right shoulder forms to push the price up...or Will it take the liquidity on bottom side...
which happens will see in the next session.
Nota
If case 2 happens, and the strong support @43800 push the price upside...or price breaks the 43800 and also breaks the 43400 levels...
The result of case 2 is a formation of Head....
the 45100 level acts as Neckline...
the level @44300 is a left shoulder....
the neckline again pushes the price downside to form a right shoulder...
If price failed to break the neckline or price failed to create a right shoulder,
all these indications belongs to more fall in Bank nifty....
The same fall will continues up to 42800 levels. Until keep on sell side..
Plan A::
Bullish from 43800 levels or (after break of 43400 levels).. to 45100 levels Or 44900 level.
Plan B::
Short side from 45000 levels to Right Shoulder....
here will check right shoulder forms are fall continuation....
(The manipulation area @ Right shoulder)
Plan C::
Short side Continuation from 45000 levels to below Right shoulder, up to 42800-42600 levels.
Rare Case ::Plan D ::
Break of Neckline and reaches to 46000 levels.
No chance of Plan D as clears the liquidity below 43400 levels and test of 42800 levels is required..
Nota
Right shoulder and left shoulder are misplaced...don't worry...Nota
wait for the fresh trades.....Nota
all this is yesterday's continuation move....Nota
Enter long, if this gives us discount...Nota
small retracement...but break of neckline is confirmation for long....Nota
don't go long without retracement....that may be fake out to trap.Nota
If price breaks this low and again breaks high...chance of upside...on retracement...until no long....Nota
Keep in long don't go for short...Nota
Enter long on break...Nota
Don't take any positions...will see in the next session.Nota
What's happening which side it is going to break
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