subhagghosh

#banknifty analysis for 10th Mar: #expiry

NSE:BANKNIFTY   NIFTY BANK
#banknifty analysis for 10th Mar: #expiry

8021 point up-move is followed by correction of 3050 points (around 38.2%) and now we are consolidating for 2 weeks.

Currently, the range is 35,100 to 36,100 and the new move will be only outside this range.

Decision Zone:- 35545, above positive & below negative

How to Trade? Play the range of 35100 to 36100 and initiate breakout trade, if range breaks.

Below 35K, you might see pain till 33.5K and above 36K we are back on track to breach ATH.

My basic analysis remains the same:-
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:-
Regards,
SG

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