Hello Everyone, Hope you all are fit and fine ... Stay Safe and Trade safe...!
As predicted market was sideways between 33900 and 33700.
BankNifty to Open Gap Down .... Tomorrow.
Resistance Level : 1. 34000 to 34500 is next level of Resistance developing. 2. 34000 is strongest Resistance level .
Support Level : 1. 33500 is next Support level . 2. 33000 is next Support level.
Sideways Possibility : More chances sideways market if sustains above 33500.
Trend Line : Buy Above 33600 and above Trend Line Sell below 33500 and below trend line.
Most Important : BnkNifty is in Down Trend as indicated by Indicator forming LL and LH. BnkNifty will try to fill the Gap created yesterday. In morning first 1 hrs you can see the selling pressure to fill the Gap. It will hault around 33500 as being the Strong Support. If this level is broken with large volume then a good down fall can be seen till 33000.
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Thank you for the comment...!
Following are few points that can make you good trader:
1. Market cannot be learned in a Single day.
2. You may learn or read all the concepts in a day, but won't be able to undestand all at once.
3. Atleast spend first 2 years in understanding market i.e what drives market Up , Down and Sideways ...
4. Learn the Basics first ... i.e Learn first and then Earn... We all have the tendency to Earn first and not learn...
5. Don't be spoon feeder ... means .. dig out the things that you are not aware of ..google it .. youtube it.. you will definately find the answer ... atleast 50% if not 100%.
When you try yourself, you will get to know more and will be independent...
6. Focus on few or single thing rather than everything .. i.e trade only few shares of your choice. When you practise one thing for 100 times you will be a master of it but if you will do 100 things each time .. then you will
not know any of those thing perfectly.
7. If yo are Trading on BnkNifty, then try to understand ... What are the components of BnkNifty Index..what/who drives Bnk Up and Down ..and When..
8. Get the Basic understanding of following things:
- Candelstick - Different types ... when & how they are formed, if formed what happens next ..
- Chart pattern - just to give an example .. see my post "Banknifty Spot Chart 23/04/2021" .. it exactly behave the same .. It was V shaped recovery ..what next...after recovery ..
- Support and Resistance - Most important ..
.. and the list is big enough ... will go step by step ..if you are intrested ...
I hope you have read the above thing completly...
These are the steps i am following and wanted to share my personal experience as retail traders like us do not loose money.
When i started trading .. i knew nothing ..whatever frd used to advice i use to follow ..
I was not even aware how to take trade.. then slowly got to know things about trading ..
Initially earned but later due to greed and Lack of Knowledge everything was lost .. just a few day ago i made 40k with capital of 1 lakh in 5 trading days and lost that 40k in next 3 days...
i have withdrawn my 1 lakh capital ...
Now more focus is on Learning and then earning..
Keep the following Mantras in you mind forever, it will make you successfull in whatever field you go...
1. Know the Basics of It...
2. Lear and Earn ..specially for StockMarket
I hope you like my analysis.
Please do share your thoughts into comment section.
Please hit the Follow button, if not hit yet ... to get the regular analysis.
Please give a like, it motivates me to do analysis and do share with your friends as well.
Karansingh01
⋅
I think, banknifty will open 200 points up and still trade in green till 34500. it can face resistance there at 34500. let's see what happens.