BANKNIFTY-Which is Support Trendline or 43000 ??
Observations:
-----> After Strong breakout from 43000,price opens gap up means buyers want to take the price to higher levels.
------> Gap up + Consolidation at 43500 is observed. price is moving downwards, means price wants to go upside test of demand zone at 43000 breakout.
-------> If it is a false breakdown at 43350 level, and price moves again upside, look for sell at 43500/43600 level false move to upside may be happens.
-------->If trendline or 43000 acts as a support , chances are more for breaking the strong resistance at 43600 and reach the price towards 43850-43900.
-----> After Strong breakout from 43000,price opens gap up means buyers want to take the price to higher levels.
------> Gap up + Consolidation at 43500 is observed. price is moving downwards, means price wants to go upside test of demand zone at 43000 breakout.
-------> If it is a false breakdown at 43350 level, and price moves again upside, look for sell at 43500/43600 level false move to upside may be happens.
-------->If trendline or 43000 acts as a support , chances are more for breaking the strong resistance at 43600 and reach the price towards 43850-43900.
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Thanks for your Support **
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