BANKNIFTY ANALYSIS TO KNOW SYMBOL: NSE:BANKNIFTY
Banknifty is at a crucial point in the weekly time frame, it has closed below the support zone after hovering over that for almost 1 Year.
Selling can be accelerated after a retest is done. Still, if the price closes above 34500 somehow it can be a temporary relief and after some time.
Bears can again try to push BNF down because this year it's the second attempt so one has to be cautious on both the Sides and book profits fast.
EDGE
TRADING A GAME OF PROBABILITYTRADING A GAME OF PROBABILITY
We know that market has random movements; the pattern behaved in the past cannot behave exactly the same next time so in a random market environment there are so many external factors that can affect the outcome of the trade, a trader cannot know all those factors. What you know is your EDGE (your strategy) which is certain in an uncertain market environment, If your edge has a positive outcome you can produce a consistent result in a random environment.
HOW TO PRODUCE CONSISTENT RESULT IN A RANDOM ENVIRONMENT
An event that has a probable outcome can produce consistent results if you have the odds in your favor and there is a large enough sample size. (a series of trades generated by your edge). You have to think in probabilities and take every single trade which meets the criteria of your system (your edge); you don’t know the outcome of any trade before taking the trades (you don’t know which trade is going to be a winner or loser) unless you know a way to travel in time so, you cannot select between the trades you have to play all.
Every event is independent of the previous one. If your last 2 trades are loser doesn’t mean next will also be a loser, because markets are random and you can make consistent result if you have odds in your favor.
Indiabulls Housing Finance - Long Term Buy ?The Stock has been in a downward spiral for many months. It has created a descending channel on the daily chart as well as another small descending channel inside the bigger descending. 3 touches of a pattern indicate pattern completion. Here both the descending channels have completed their respective 3rd touches at the same point. We have also a Morning Star candle shape formation at this low. This is a stock to buy and hold for the coming weeks or months.
The Levels are indicated on the Chart.
Technical Overview - Buy and Hold
Timeframe - Daily
Disclaimer
This content is for information and educational purposes only and should not be considered as a piece of investment advice or an investment recommendation. Past performance is not an indication of future results. All trading carries risk. Only risk capital which you are prepared to lose.