#banknifty analysis for week 14th - 18th June'2021
#banknifty analysis for week 14th - 18th June'2021
Looks like we are in wave 5 of intermediate trend, which might be an ending diagonal wave and you might observe low volume and momentum ossicular will shart showing divergence.
Decision Line:- 34,142
Resistance:- 35,350 / 35,550 - 35,650
Support Zone :- 34,068 / 34,930 / 34,750 / 34,410 - 34,608
All long SL is 34,751
I will try to post delta updates on a daily basis or if there is any significant change in structure.
One of the best forms of PA action is not to predict but to act on the price, chart tells you where, when & how to act on price. Wait for the decision points on the chart to act else don't trade.
E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will short else you won't.
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
#elliottwave #nse # nifty #banknifty
Regards,
SG.
Looks like we are in wave 5 of intermediate trend, which might be an ending diagonal wave and you might observe low volume and momentum ossicular will shart showing divergence.
Decision Line:- 34,142
Resistance:- 35,350 / 35,550 - 35,650
Support Zone :- 34,068 / 34,930 / 34,750 / 34,410 - 34,608
All long SL is 34,751
I will try to post delta updates on a daily basis or if there is any significant change in structure.
One of the best forms of PA action is not to predict but to act on the price, chart tells you where, when & how to act on price. Wait for the decision points on the chart to act else don't trade.
E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will short else you won't.
John Maynard Keynes said, “the markets can remain irrational longer than you can remain solvent.” So be cautious and flexible as market conditions evolve.
Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
#elliottwave #nse # nifty #banknifty
Regards,
SG.
