#banknifty analysis for 2nd Mar

#banknifty analysis for 2nd Mar

Decision Zone:- 35,286

Upper Targets:- 35,620 / 35,863 / 36,020 / 36,342 / 36,500

Lower Targets: 34,960 / 34,722 / 34,300 / 33,911 / 33,700

Flag formation observed in the chart, either price will reverse from recent low and move up.

There is another scenario, the price might try to fill up the GAP - 33305.30 - 33583.15, before continuing upwards journey.

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.

Ref:- Elliot Wave 1 H TF analysis:-


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