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subhagghosh
Feb 8, 2021 9:03 PM

#banknifty analysis for 9th Feb 

Nifty Bank IndexNSE

Description

#banknifty analysis for 9th Feb

The last 2 days' chart doesn't look great.

Gravestone Doji on the daily chart on Friday, until Friday's high, is not crossed, the index will be under pressure.

Decision Zone:- 35,910 - 36,153, trend deciding levels 35,750

Upper Targets:- 36300 / 36500 / 36900

Lower Targets: 35,777 / 35,550 / 35,300 / 35,050

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
rajtivrekar
Since last 2 days , I m holding 175 qty at avg price 329/- on 36500 CE with loss of -26k at the end of 9th Feb market. I am worried about my investment now. Can NIfty Bank will come up tmrw so that I can exit cost to cost ? Plz suggest me what to do ?
thangaraj1991
I m holding Bny 36400ce bought at 300 should I hold or exit
subhagghosh
@thangaraj1991 , try to close it by 12 pm
thangaraj1991
@subhagghosh, tommorow 12 pm right,ok
fujitsugaurav
hi today i but a pe35400 and i am holding it...dont know what happen in banknifty tomarrow.. Whts ur opinion
subhagghosh
@fujitsugaurav try to close it in dips
cheerfulEagle13955
Im holding 36700ce bought at 327 should i hold or exit?
subhagghosh
@cheerfulEagle13955 Book out adap
subhagghosh
book out asap, theta decay will impact the trade
subhagghosh
35910 - 36153 is no trading zone, above is positive n below negative.

35750 is trend reversal levels, if hourly closing below 35750, then trend reverses.
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