BANKNIFTY--Rally Base Rally or Reversal??

A strong bullish momentum is observed from double bottom levels,
now price is near to the previous strong resistance area, if these resistances acts as support then only will see an upside momentum...if they failed to push, it will continue its momentum towards below levels...

CASE 1::
Rally Base Rally
If it is a rally base rally price will take the support of 45600 levels...and it will continue to move upside above 47600 levels.
keep an eye on trendline, if breaks will look for long on retracement.

Case 2::
Reversal
If we observe a consolidation on bottom side @ double bottom levels..
it will go down and reversal may happens from 44000 levels...

评论:

price is also in golden zone.

评论:

we have a chance of inverse head and shoulder as well

评论:

price is near to support zone...wait for reversal.

评论:

wait until price breaks the resistance at 46000 levels and retest for go longside.

评论:

keep safe enters in resistance zone...