subhagghosh

#banknifty analysis for 16th Mar:-

NSE:BANKNIFTY   NIFTY BANK
#banknifty analysis for 16th Mar:-

36,463 to 34,430, 2033 point fall in two days was too quick, followed by 835 (41%) pullback in 2 hours.

Decision Zone :- 35,188 - 35,572 is a no trading zone, above positive & below negative.

Currently, the range is 34,300 to 36,000

Support:- 35,000 / 34,866/ 34,700

Resistance:- 35,686 / 36,028 / 36,463

It's a flag formation on an hourly time frame, probability is for the higher breakout.

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

Because of you all well wishers,I keep on sharing 🙏
+6 Reply
@subhagghosh, ab badal kar kya fayda ...jisko pakadna tha usne pakad liya
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pben369 subhagghosh
@subhagghosh, Thank you so much Subhag for putting these perfect analysis every day!
+1 Reply
Noise is everywhere, focus on your goals, what people says doesn't matter.

karmany evadhikaras te
ma phalesu kadacana 
ma karma-phala-hetur bhur
ma re sango'stv akarmani

You have a right to perform your prescribed duty, but you are not entitled to the fruits of action. Never consider yourself the cause of the results of your activities, and never be attached to not doing your duty🙏
+1 Reply
loka samasta sukino bavantu,sarva jana sukino bavantu
+1 Reply
Thank you
+1 Reply
I was waiting for your analysis.
Thanks a lot 😊
+1 Reply
I Must Say That Your Analysis Are Beyond Professionals .
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