subhagghosh

#banknifty analysis for 27th May'2021 # expiry

Long
NSE:BANKNIFTY   NIFTY BANK
#banknifty analysis for 27th May'2021 # expiry

Monthly expiry doesn't follow any technicals, it's only about big boys' position adjustment and just follow what they do.

Decision Line:- 34,733

Resistance:- 35,055 / 35,270 / 35,576 / 35,967

Support Zone :- 34,573 / 34,245 / 34,015

OI analysis:-

20.2 L OI in 35,000 CE (Closed at 89.75 )& 10.3 L OI in 34,500 (Closed at 313.85 )

14.1 L OI in 34,500 PE (Closed at 121 )& 13.4 L OI in 34,000 PE (Closed at 28 )

This clearly shows 34,050 is strong support & 35,100 is strong resistance as per OI and based on chart analysis.

Big move only outside the 34050 to 35100 range.


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

Comments

Thank You So Much Sir
+1 Reply
I am fan of you bro
+1 Reply
Index traveled as guided 👍
+1 Reply
awating for your knowledge sharing everyday...thank you sir
+1 Reply
will it exide expire condition today
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