BANKNIFTY ANALYSIS ON 15 MIN CHART.
BNF has been trading in downward range market and it’s making LH LL pattern with price squeezing at the end if the range market.
We also observed that every time BNF was making LH LL pattern the retracement on minor trend was from 50%, both the times (marked in red circle) so we believe BNF might gap down and sustain above the Demand zone, give us a reversal , retrace from 50% again in minor trend and end the day in range.
If it breaks below the provided zone trade safe because that the area where we had really bullish movement because of BUDGET DAY WEEK.
We also observed that every time BNF was making LH LL pattern the retracement on minor trend was from 50%, both the times (marked in red circle) so we believe BNF might gap down and sustain above the Demand zone, give us a reversal , retrace from 50% again in minor trend and end the day in range.
If it breaks below the provided zone trade safe because that the area where we had really bullish movement because of BUDGET DAY WEEK.
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