BANKNIFTY-- Bearish channel Breakout ??

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price is exactly closed in the resistance zone again.
Broken the trendline strongly...
broken the bearish channel strongly.
Today after showing strong bearish momentum price showing strong bullishness, finally closed at resistance zone.
price is now above the bearish channel...
if this resistance zone,resist the price to go up it will fall upto the bearish channel.
If price falls below the bearish channel again...
price again chance of falling downside.
Previous resistances, gives support price is bullish again and will break 45100 levels soon.
Consolidation may happens, before going to break the resistance.
will see what happens in the next session.

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don't go for long.

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we will buy at discounted price.

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Go long...hen break and retest..until keep in short side.

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If price breaks and retest will go for short side...with small SL.

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Targets are previous resistances.. on trendline 44780 and 44670

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Enter short...when trendline fails to push the price up.

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previously the 44800-44850 zone is stronger...thats why it will not allow the price to goes down.

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wait for rally base rally or reversal with retracement.

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end of bullishness ...

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keep safe...

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Price gives us discount...wait for short

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don't go short...price may again break high.

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Keep an eye 45300

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All longs going to windup...

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Keep safe guys.....

IIT-Trader

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