Bank Nifty - Emotional Zigzag (Weekly Outlook 9th -13th Jan2023)

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There is a very high degree of risk involved in trading. Past results are not indicative of future returns.


This Video Talks About

Fear & Greed - Two Visceral Emotions

It is very important to control your emotions, to avoid any unfavourable outcomes for the
decision made as an investor or trader in the market


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BankNifty Weekly Outlook
Weekly outlook for the Index / What to be expected. Opening huge gap up for Index today @
9th Jan2023, do not
hurry up & if Index halts upside in 42650-42750 zone, look for retracement in 42200-42300
zone & managing your risk below 41900-42000 & doing your due diligence, can expect
upside attempt by the index in 42800-43000 zone / above 43000 for 43200 later close by
range of 43578 which is close to the parallel channel drawn from 44151 to 43578 & pulling
down to connect 41597.

Trade active:

12:05 PM / 9th Jan 2023

Last @ 42654

Day High @ 42716.80

Halted exactly in 42650-42750 zone as suggested in the description in the idea above.
We shall look for retracement next if holds below 42750

Trade active:

10:10 PM / 9th Jan 2023

Last @ 42582

After halting at 42716 - Index slipped to 42337 which was close expected zone 42200-42300

Next once again index could open gap up.

Trade active:

10:03 AM / 10th Jan 2023

Last @ 42211

Day Low @ 42147

Hurray !!! Index dropped close to 42200-42300 from the tops of 42650-42750 as suggested in the main idea.

What do we expect next?

Can it push upside towards 42800-43000 zone as suggested in the idea above. Let us wait & watch as it unfolds next.

Thank you

Trade closed manually:

Index going below 41900 has changed our outlook. Have to be reviewed later.