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subhagghosh
May 14, 2021 6:24 PM

#banknifty analysis for 17th May'2021  Long

Nifty Bank IndexNSE

Description

#banknifty analysis for 17th May'2021

Decision Line:- 32,318 (Above positive & below negative)

Resistance:- 32,650 / 32,804 / 33,150 / 33,297 / (33,320 - 33,455 )

Support Zone :- 31,888 / 31,321

Positional upside target is 34,060 - 34,815 (Impulse Wave 5 target) & 34,130 - 34,442 (Diagonal Wave 3 target)

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
aravindh333
super sir but 32700 is strong resistance. i think near 32700 is trend reversal may be fall upto 30900 to 3 june.
subhagghosh
Hope the analysis helped
anshumanpande77
it might be possible it can test the level of 31928 and then bounce back because that's the key level
akshay1cj6
such a great analysis
sommanathpraveen
All resistances touched Subhag Bhai 🙂
subhagghosh
Bhul Chuj ho gai ho to maf kijiaga 🙏
ghostshell4463
@subhagghosh, drawing achi banai hai Munna .....maaf kar diya jaa aish kar
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