subhagghosh

#banknifty analysis for 10th June'2021 #expiry

Long
NSE:BANKNIFTY   NIFTY BANK
#banknifty analysis for 10th June'2021 #expiry

Zig Zag Correction, leg C is always furious, I still see the market is on the upside.

The wave structure breaks below 34,410.

Decision Zone:- 34,946 - 35,009

Resistance:- 35,142 / 35,370 / 35,550

Support Zone :- 34,844 - 34,717 / 34,410 - 34,608 / 34,142

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.

Regards,
SG .

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update :- if u r long, book partial profit and trail sl to cost.
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Last swing sl is 34,410.

as long as 34,410 holds we are in pull down.

trend reversal occurs below 34k levels only.

I post, what I see.
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@DevendraJadiya,

#banknifty analysis for 9th June'2021

Looks like a zig-zag correction, which seems to get over and will move back to the normal course of upmove. The market is well above 20/50/200 DMA and correction seems to be normal for a long entry.

Decision Line:- 35,200

Resistance:- 35,370 / 35,550 / 35,960

Support Zone :- 34,950 / 34,844 - 34,717 / 34,410 - 34,608

This was my analysis posted last evening:-

1. Market took support from the lower channel and crossed 35200 to make a high of 35,408, using the analysis, you catch the first upside target of 35,370:- +170 points.

2. It sold below 35,200, even if you waited from the channel to break to take short trade, you meet two targets on the lower side 34,950 & 34,717.

3. The green arrow mentioned in the chart is from the green zone ( 35,717-34,844, which is a buying area and higher targets will be achieved tomorrow.
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Here also ur assessments proven wrong
U were bullish
And we followed ur analysis
Not blaming any loss to you
But plz improve ur assessments
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