subhagghosh

#FINNIFTY analysis for 12th Jan'2021

Long
NSE:CNXFINANCE   NIFTY FIN SERVICE
#FINNIFTY analysis for 12th Jan'2021

This is my first analysis for the nifty financial services index, which started trading today 11th Jan'2021 on NSE.

FINNIFTY is clearly the 5th leg of the up move, which gives a logical target of 16,131.

9 EMA on daily TF is used to gauge the trend, which is clearly UP.

Decision Zone:- 15,550 - 15,600

Upper Targets:- 15,720

Lower Targets: 15,440

Not much participation is there on the first day, avoid trading on options better trade on futures only.

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.

For 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
Comment: Update:- For 13th Jan'2021.

The analysis remains the same for 13th Jan, due to lack of participation additional analysis is not worth of.