subhagghosh

#banknifty analysis for 13th Jan'2021

NSE:BANKNIFTY   NIFTY BANK
#banknifty analysis for 13th Jan'2021

Decision Zone:- 32,062 - 32,246

Upper Targets:- 32,382 / 32,507 / 32,743 / 32,998

Lower Targets: 31,891 / 31,745, 31,655 / 31,510

bank nifty expected to move towards 33,741.

bank nifty is so near ATH , it won't reverse until we cross the ATH and do min 5 to 10 % of upside before any correction.

Read the analysis in context to larger time frame:-
Giving targets of 32,362 to 34,309 bare min.

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.

Regards,
SG