subhagghosh

#banknifty analysis for 26th Feb

NSE:BANKNIFTY   NIFTY BANK
#banknifty analysis for 26th Feb

Decision Zone:- 36,840

Upper Targets:- 37,124 / 37,568 / 37,708 / 38,452

Lower Targets: 35,342 / 36,020 / 35,863 / 35,620 / 35,292

The rising flag is not a good pattern and has a high probability of a downside move.

36K is now the pivotal point for positional trade, below 36K be positionally long and below positional short.

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