BANKNIFTY-Trendline Holds or Buyers Exhausted??

30 Apr 2023

BANKNIFTY has been on an upward trend for quite some time now, but it seems like it may be time for a correction at the strong resistance level of 43600.

Observations:
----->>However, the trendline is currently acting as a support and the price is still moving up.
------>>Just yesterday, the strong resistance at 43000 was broken, so it's possible that it may now act as a support level.
----->>If the price falls below 43000 again, it's uncertain which level will hold.

Which Level Holds:
In the past, the price faced difficulties going up at 42700 and failed.
But now, that same level may act as support to go higher. It's recommended to stay on the long side until the price breaks below 42700.

-------->>
If price breaks 42700 and facing resistance @43000 or 42850 level and again breaks 42700 , go for short 42500,42300,42000.

2 Mei 2023

Nota

Price opens gap up ,we have resistance at 43500-43600 wait until price reach this zone for short side, until don't go for buying or selling. wait for the price to comeback to levels to trade.

2 Mei 2023

Nota

Double top Forms??