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

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