#banknfity Delta update for 3rd Aug

What do I see on #banknifty?

Falling wedge breakout with a gap and pull back to the falling wedge line.

The heart might say to go short, but when you open your eye and use your brain to analyze, there is clear cut long which chart is telling us.

I prefer to go long until 34,350 is not broken, the buying will come above 35K, 35500 looks very much possible on the upside.

The rest of the weekly analysis remains the same.

Comment: Last weekly analysis:-


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+4 Reply
Hi, can i go for calls above 35500 for tomorrow?
+1 Reply
@pravins86 no, have to be careful with calls above 35500.
+2 Reply
pravins86 subhagghosh
@subhagghosh, I started to follow your posts recently. Learning a lot and more to learn. In the past two weeks, I have made some profits and losses in options. Your technicals have helped me a lot in making some profits and reduce losses. Please give tips/points to follow on intraday F&O trading or any resources to learn more.
+1 Reply
Very well defined direction and done accordingly.............Great ..keep it up..
+1 Reply
superb! I already gave like yesterday...felt like have mastered technicals and trading psychology ! kudos !!
+1 Reply
Thank you, First Thumbs up !
+1 Reply
good bro