BANKNIFTY--Consolidation or Bullish ??

BANKNIFTY is rejected from the main channel and fall happens...
we have detected a break below the secondary channel as well.
If tomorrow price opens gap down or consolidation happens below 47400-47000 levels then liquidity will be clear on bottom side @47000 levels.
If tomorrow again opens up and we have a chance of continuation to upside for the retest of secondary channel and may fall back again.
Price is slowly creating a down ward channel, keep safe from these levels.
Rarely, If consolidation happens above the secondary channel then it will again test ATH levels..

Comentarios:

If consolidation happens above channel will have a possibility of test ATH.

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Drop Base Drop is observed...price exactly opens near to the base.. Base may push upside or downside...
Keep safe here...

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If price is unable to push upside from this zone high, then it will goes down...
wait until base push down or upside...

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if price again comes back to the day high and retrace enter long...by keeping SL at Base High.

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Keep in long side...it may test base low again....