subhagghosh

#banknifty analysis for 15th Mar

Long
NSE:BANKNIFTY   NIFTY BANK
#banknifty analysis for 15th Mar

Currently, the range is 35,090 to 36,041 and the new move will be only outside this range.

Decision Zone:- 35,572 - 35,617, above positive & below negative

Support:- 35,450 / 35,188 / 35,040 / 34,800

Resistance:- 35,825 / 36,040 / 36,190 / 36,463

It's a flag formation on an hourly time frame, probability is for the higher breakout.

How to Trade? Play the range of 35100 to 36100 and initiate breakout trade, if range breaks.

Below 35K, you might see pain till 33.5K and above 36K we are back on track to breach ATH .

My basic analysis remains the same:-
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.
Ref:- Elliot Wave 1 H TF analysis:-
Regards,
SG

Comments

Everyone is wearing shorts

Be cautious .
+4 Reply
What's u r view sir
Reply
Check my tonight's analysis
Reply
My downside target of 34650 ✔👍 completed.
+2 Reply
faraz777 subhagghosh
@subhagghosh, Hi..your analysis has been quite helpful..i wanna know whether bank nifty will weaken more and break 34000 or there will be a bounce back?
+3 Reply
Thank you!
+2 Reply
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