BankNifty Analysis Day View 9th June.

Hello Traders,
Hope you all are fit and fine ... Stay Safe and Trade safe...!

For More detail analysis for INTRADAY LEVELS, do not forget to watch Video on my channel BankNifty Only....

Day View looks Bearish , Next Target would be 34500 if 35000 is broken.

Imp Note :
35500 is Strongest Resistance and has good resistance zone above it as well.
If 35000 Support is Broken and On Day View, and if the Candel Closes below this level, then We Can Consider the Down Trend has Started as stated in 7th June's Day Analysis.

This is not Buy and Sell recommendation to any one.
This is for education purpose and a helping hand to learn trading in Market.

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Please do share your thoughts into comment section.

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Today market opened gap down. You are 101% correct. I have tested your words and market opening. Very nice sir. I think tommarrow bullish will open. Bsz 35300 is one weak support zone.
Sir, sorry pls don't mistake me. I am learning from you only sir.
+3 Reply
kiranrshinde praveennarashimamurthy15

Thank you for the comment ...

I think you want to say Bearish ..and not Bullish ... right ...?

Keep Learning ...
Correct sir,
Sir, please take live trading sir.... Because you teach us like a child 😜🙏
+1 Reply
kiranrshinde praveennarashimamurthy15

Bhai live trading is not possible at all ... because i myself i am not getting time to Trade ...
I haven't traded for more than 1.5 months ...
Some how i am managing to put these analysis to you all guys and on top of that ....making video is time consuming but more explanatory ... it's fine.

One thing ... i will do my best but from your side you ALL should try and learn .... also share...with others..
You won't beleive ... but No ONE tought me, Only My Mistakes, Losses and whatever trading experiece that i have ... and finally ... my passion to learn these things.

So its my kind request to all of you ... that Stop depending on other, Learn yourself and Trade ...
vishug1971 kiranrshinde
@kiranrshinde, thankfully you are with us who can minimise our learning curve with right direction as a guru, guide
Thanks a lot
+1 Reply
kiranrshinde vishug1971

Thank you Vishu so much ... such comments make me feel proud of what i am doing ...

Also, Market is such a subject that if you and other followers are believeing that i am your teacher than ... i am also very glad to have good and most Obdient, well disciplined Student like you & all the others ...
Just to give an example :
If we compare market as English subject .. what de we need to be good,fluent in English ?
1. We should know the basics i.e Alphabets
2. With this alphabets we construct word, sentences, phrases poem etc...
In similar manner,
1. We must know the Candelstick .. its types .. Bullish ..Bearish atleast.
2. Support and Resistance ...
3. Trend line ...

If we consider as Option Buyers ... ONLY ... then

With the basic knowledge of only Above 3 points, and Discipline ...You can be a good trader and alwasy be in profits...

Discipline pts to follow:

1.Trade at Support or Resistance at most... may be on chart Levels or Trendlines
2. Trade based only on formation of Candels at Support and Resistance.
3. Do not enter into trade in middle, if entered strictly place a Stop Loss.
vishug1971 kiranrshinde
@kiranrshinde, Sirji, I have lost maximum money by (wrongly) inpreting the signals later driven by emotions, many times encountered breakout happens but missing retest the level market move up, some times Double bottom , Head and shoulder, pattern also misjudged, need know on what timeframe we should consider these entry signals any times with Gravestone at bullish reversal or hammer at barish reversal at the support/resistance level had ditched me with different time frame , please guide
+1 Reply
kiranrshinde vishug1971

In short ..
Do not try to trade everything you see ... are we master of these all stratgies ..

One Simple Example :
Compare market with Cricket everyone knows ..right?

Sachin is the Master ... we call him Baap hai sabka ...its fine .. but .
Here we need to understand that ;
1. Does Sachin hits Six on every ball ... NO
2. Is Sachin not out everytime .. NO
3. Does Sachin plays all types of shots in One Overs ... Won't be able too.

Likewise we need to
1. Take trade only when we see good opprtunity ..
2. Our stop loss must hit but account must not wipe out.
3. We cannot Trade all stratgies all together untill and unless we are expert of those ..

What is common answer .... ?
Practise ... Descipline .. Dedication
Sir, Most things went as per yesterday's analysis, the closing is below 35000 , should we consider barish trend started? If so to what level we can expect the Bank Nifty to reach according to Elliott wave theory?
Once again you proved that market does follow by rules not the emotions

+1 Reply
kiranrshinde vishug1971

Thank you for the comment.

Lets wait for tomorrows Expiry ...
The final target of BnkNifty as per Elliot Theroy would be Close to Levels of 30500 i.e Close to the Low of Part 4 may Start of Aug or End of July.

Do not miss the video of expiry .. iwould be posting later ...
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