subhagghosh

#banknifty analysis for 9th June'2021

Long
NSE:BANKNIFTY   NIFTY BANK
#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

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 .

Comments

sir today i enter fresh buy when spot@ 35070 in july contract option otm 36000ce am i right in direction?
+4 Reply
@rajendhiren274 awesome 👌
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34400-34600 looks good demand zone
+1 Reply
@Goutam5196 right, but dip till that level, will we get or not , is a ? mark
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@Goutam5196 Dip came 34640
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Goutam5196 federalOil8875
@federalOil8875, yes... market keeps surprises in back pocket always....my zone came and now i m on buy side... will not be surprised if bnf pull of to 36000 in next two days
Reply
I have taken 36100 CE 17 June Expiry. Any Opinion on holding this call??
Reply
I have taken 34800 ce for 10th June 2021, am I in the wright path?
Reply
@accounts77616 I hope,u will make profit
Reply
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