Nifty Bank IndexUpdated #banknifty view for 30th Aug'21
#banknifty view for 30th Aug'21
Simple analysis, flag pattern, breakout already competed on Friday, followed by a pullback, which I posted on Twitter during market hours.
The logical target comes out to be near 36,000 areas, this area is deep congestion of resistance, in terms of Fibonacci, EW, price action & harmonic.
A fresh set of buying can only be initiated above 36,300 levels, else wait for price action reversal to short if the market starts falling from 36K areas.
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
Simple analysis, flag pattern, breakout already competed on Friday, followed by a pullback, which I posted on Twitter during market hours.
The logical target comes out to be near 36,000 areas, this area is deep congestion of resistance, in terms of Fibonacci, EW, price action & harmonic.
A fresh set of buying can only be initiated above 36,300 levels, else wait for price action reversal to short if the market starts falling from 36K areas.
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
Note
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.