#banknifty analysis for 25th May'2021
All overlay & oscillators are overheated and RSI is making lower high, the index needs to cool down and we have monthly expiry this week. Play the green & red zone of the chart, positional short only below 33,900 below the closing.
RSI is plotted in the form of a histogram, you just need to change the "plot(rsi, "RSI", color=#8E1599, style=plot.style_histogram)" in your default RSI code.
Decision Line:- 34,900
Resistance:- 35,270 / 35,576 / 35,967
Support Zone :- 34,757 / 34,573 / 34,245 / 34,015
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.
Regards,
SG
All overlay & oscillators are overheated and RSI is making lower high, the index needs to cool down and we have monthly expiry this week. Play the green & red zone of the chart, positional short only below 33,900 below the closing.
RSI is plotted in the form of a histogram, you just need to change the "plot(rsi, "RSI", color=#8E1599, style=plot.style_histogram)" in your default RSI code.
Decision Line:- 34,900
Resistance:- 35,270 / 35,576 / 35,967
Support Zone :- 34,757 / 34,573 / 34,245 / 34,015
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.
Regards,
SG
