subhagghosh

#banknifty analysis for 3rd Mar

NSE:BANKNIFTY   NIFTY BANK
#banknifty analysis for 3rd Mar

Decision Zone:- 35,375 - 35,405

Upper Targets:- 35,620 / 35,863 / 36,020 / 36,342 / 36,500

Lower Targets: 34,150 / 34,960 / 34,722

As long as 34,646 holds, bulls need not be worried, seems like the price likely to consolidate in 1000 point range of 34,800 to 35,800 before the next move.

My basic analysis remains the same:-
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.

Ref:- Elliot Wave 1 H TF analysis:-
Regards,
SG

Comments

thank you SG
+1 Reply
intraday entry n exit use 3 minutes chart and to catch trade direction use 15 min.

No indicator works.
+1 Reply
HPY001 subhagghosh
@subhagghosh ji u r requested to post nifty view also alongwith banknifty
Reply
mnm1970 subhagghosh
@subhagghosh it worked. didn't make much money hardly. but didn't lose.
thank you
Reply
are we heading 38542 as you have mentioned that?.35800 taken out na
Reply
hello SG
2nd march BN went to 35700 and then sank to 35000 and then rebounded to 34400.
please advise what is the correct chart to adhere to for intra day.
1min, 3 min, 10 min, 15 or 30 min?
and the correct indicators?
I am with zerodha.
today I was totally exasperated.
booked a small loss of 700rs.
I buy put and call options.
Reply
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