Nifty Bank IndexLong
#banknifty analysis for 15th Mar
Updated
#banknifty analysis for 15th Mar
Currently, the range is 35,090 to 36,041 and the new move will be only outside this range.
Decision Zone:- 35,572 - 35,617, above positive & below negative
Support:- 35,450 / 35,188 / 35,040 / 34,800
Resistance:- 35,825 / 36,040 / 36,190 / 36,463
It's a flag formation on an hourly time frame, probability is for the higher breakout.
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
Currently, the range is 35,090 to 36,041 and the new move will be only outside this range.
Decision Zone:- 35,572 - 35,617, above positive & below negative
Support:- 35,450 / 35,188 / 35,040 / 34,800
Resistance:- 35,825 / 36,040 / 36,190 / 36,463
It's a flag formation on an hourly time frame, probability is for the higher breakout.
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
Trade closed: target reached
34,650 done
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