BankNifty: Key Support and Resistance Levels [08 Feb 2021]
BankNifty in crucial zones
Long Setup: If BankNifty breaks trendline, then look for possible long opportunity.
I will wait for Banknifty to test the trendline or come to blue area once it breaks.
Short Setup: If BankNifty gives break out the blue zone, then you might expect downtrend to continue further.
I will wait for BankNifty to test the trendline or the blue area, and then short it.
*** Look for candlestick rejection patterns for further confirmation
Long Setup: If BankNifty breaks trendline, then look for possible long opportunity.
I will wait for Banknifty to test the trendline or come to blue area once it breaks.
Short Setup: If BankNifty gives break out the blue zone, then you might expect downtrend to continue further.
I will wait for BankNifty to test the trendline or the blue area, and then short it.
*** Look for candlestick rejection patterns for further confirmation
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Trade still not triggered
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