#banknifty analysis for 18th Feb
A rising wedge is not a good sign, we might extend till 38,100, which is an excellent place to short for a downside target of 35,500
Decision Zone:- 37,050 - 36,950
Upper Targets:- 37,234 / 37,347 / 37,506 / 37,708 / 37,966 / 38,100
Lower Targets: 36,735 36,477 / 36,132
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
A rising wedge is not a good sign, we might extend till 38,100, which is an excellent place to short for a downside target of 35,500
Decision Zone:- 37,050 - 36,950
Upper Targets:- 37,234 / 37,347 / 37,506 / 37,708 / 37,966 / 38,100
Lower Targets: 36,735 36,477 / 36,132
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
