Bank Nifty Trading Strategy for 22nd Dec'2020

#BankNifty Trading Strategy for 22nd Dec'2020

Wave 5 is completed, First leg of correction Wave A is in progress.

Decision Zone:- 29,484 - 29,577

Smaller Range:- 28,923 - 29,980

Medium Range:- 28,580 - 30,202

Upper Targets: 29,763 / 29,980 / 30,180 / 30,291

Lower Targets: 29,201 / 29,086 / 28,941 / 28,580 / 28,397

Try to read the market in context to the larger picture:-

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.

For 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.