subhagghosh

#banknifty view for 20th Aug'21:- Additional Views

NSE:BANKNIFTY   NIFTY BANK
#banknifty view for 20th Aug'21:- Additional Views

We are in ABC correction:-Wave C is mostly sharper and faster in Flat Correction . Wave “C” generally extends 123-138% of wave A but sometimes it is so drastic that it can extend 200%-261% of “A”.

The potential reversal levels are marked on the chart, in case of the gap is down don't try to short, wait for reversal signals from the downside for positional long trades.

On 4 hour time frame:- 50% & 61% projection is placed at 36,905 & 37,563 which may or may not be achieved.

E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will be 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

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