BANKNIFTY has pulled back by about 1000 points with in a span of seven days. Now reached level where earlier a lot of buying interest was witnessed (Watch it in the chart marked with rectangle box).One interesting point to note in this pullback is that even though there were range expansion of candles volume expansion is missing altogether. See the chart.
Also look carefully in the chart and see that in the past whenever price pulled back with low volume the expansion to the upper range was quick.
So the two important points to note that.
1) Price is in the zone where in the past lot buying interest was witnessed with heavy volume.
2) The current pullback has no volume back up. The last days volume was almost negligible.
Good Luck
ノート
So... 800 points up from last update. Hope it helped. Be light on position, Increase position size only when Higher high establishes on hourly time frame.
ノート
up... 1700. Now lets close this.
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これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。