#banknifty analysis for 5th April:-
#banknifty analysis for 5th April:-
Decision Zone:- 33,650 - 33,825
Resistance Zone:- 33,990 / 34,360 / 34,566 / 34,650 - 34,750 / 35,020
Support:- 33,750 / 33,520 / 33,320
We have mount Everest seating at 34,360 - 34,650 zone, where sell-off might trigger again and if these levels are crossed, we might see 35,500, followed up to 36,500.
On lower time frame, we see inverted head & shoulder, which gives a upside targets of 34,380 / 34,566 / 34,753 / 35,020 / 35,350
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
Decision Zone:- 33,650 - 33,825
Resistance Zone:- 33,990 / 34,360 / 34,566 / 34,650 - 34,750 / 35,020
Support:- 33,750 / 33,520 / 33,320
We have mount Everest seating at 34,360 - 34,650 zone, where sell-off might trigger again and if these levels are crossed, we might see 35,500, followed up to 36,500.
On lower time frame, we see inverted head & shoulder, which gives a upside targets of 34,380 / 34,566 / 34,753 / 35,020 / 35,350
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
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