#banknifty view for 10th Aug'21:-

#banknifty view for 10th Aug'21:-

What do I see on BankNifty?

1. Flag pattern and Completion of Wave 4

2. If today's swing low is broken, then also Wave 4 can be anything 35,211 / 35,404 / 35,596.

3. If 36,109 is crossed, then upside for 36,414 / 36,664 / 36,913 gets open.

4. What If 35,612 is broken, wait for the reversal signal to go long.

5. Can I be short? Absolutely not, we are extremely bullish until 35,200 breaks and holds, no positional short.

6. What will be the trading strategy? Buy in dips for going long and momentum trade above 36,109.

Many things can be read from the price, but you need a great pair of eyes. Rest who doesn’t understand will call it junk.

E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will be 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.


Previous View:-


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.