#banknifty analysis for 15th Jan'2021
#banknifty analysis for 15th Jan'2021
Almost spend 2 hours on multiple time frame analysis to figure out if there is any weakness in the chart, as we clocked ATH, honestly, I was trying to figure out something somewhere but couldn't figure out anything which can give me a signal of weakness.
The market is supreme, let not predict anything but swim with the flow, the next hurdle is 33k, if crossed we target 33,741 - 34,122.
Decision Zone:- 32,582 - 32,540
Upper Targets:- 32,743 / 32,911 / 33,094
Lower Targets: 32,410 / 32,247 / 32,017 / 31,891 / 31,725
bank nifty expected to move towards 33,741.
Read the analysis in context to a larger time frame:-
Having targets of 32,362 (DONE) to 34,309 bare min.
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
Almost spend 2 hours on multiple time frame analysis to figure out if there is any weakness in the chart, as we clocked ATH, honestly, I was trying to figure out something somewhere but couldn't figure out anything which can give me a signal of weakness.
The market is supreme, let not predict anything but swim with the flow, the next hurdle is 33k, if crossed we target 33,741 - 34,122.
Decision Zone:- 32,582 - 32,540
Upper Targets:- 32,743 / 32,911 / 33,094
Lower Targets: 32,410 / 32,247 / 32,017 / 31,891 / 31,725
bank nifty expected to move towards 33,741.
Read the analysis in context to a larger time frame:-
Having targets of 32,362 (DONE) to 34,309 bare min.
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
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