Banknifty analysis for 20/08/24.
A flag and pole pattern formation is there on the charts. While market is trading around the resistance zone of the range.
If there is a break out of the Flag, wait for the market to clear the resistance levels.
A scalp can be made for small targets but intraday position should be initiated only once the upper levels are cleared.
Moving average gate is being formed acting as a support for the market.
Levels are marked on the charts. Trade only the markets not the emotions.
Wait for the price action near the levels before entering the markets .
If there is a break out of the Flag, wait for the market to clear the resistance levels.
A scalp can be made for small targets but intraday position should be initiated only once the upper levels are cleared.
Moving average gate is being formed acting as a support for the market.
Levels are marked on the charts. Trade only the markets not the emotions.
Wait for the price action near the levels before entering the markets .
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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.
Related publications
Disclaimer
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.