#banknifty analysis for 11th Feb #expiry
In the last 4 day's bulls can consolidate on the higher side and this is a good sign and signifies time correction, either we carry on with time correction for the next couple of days before again moving up.
In the ascending triangle formation, a breakout on either side has to be tracked and positional trades have to be taken accordingly.
Decision Zone:- 35,790 - 35,846, trend deciding levels 34,750
Upper Targets:- 35,899 / 36,271 / 36,376 / 36,450 / 36,696 / 36,943 / 37,053 / 37,209 / 37,409
Lower Targets: 35,620 / 35, 456 / 35,099 / 34,741 / 34,232
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
In the last 4 day's bulls can consolidate on the higher side and this is a good sign and signifies time correction, either we carry on with time correction for the next couple of days before again moving up.
In the ascending triangle formation, a breakout on either side has to be tracked and positional trades have to be taken accordingly.
Decision Zone:- 35,790 - 35,846, trend deciding levels 34,750
Upper Targets:- 35,899 / 36,271 / 36,376 / 36,450 / 36,696 / 36,943 / 37,053 / 37,209 / 37,409
Lower Targets: 35,620 / 35, 456 / 35,099 / 34,741 / 34,232
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
