#BANKNIFTY Short Term Positional View

#BANKNIFTY Short Term Positional View:-

Price inside the falling channel, XYZ correction the min 100% is completed and any further downside can slide towards 36,181 / 35,464 / 34,654

What did I see?

1. Long above 37,465 and add more above 37,900, SL 37,050

2. Sell below 36,613 and add more below 38,181, SL 37,050

Any breach of 36,613 will result in panic selling

Decision Zone:- 37,000 above +ve and below -ve.

E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will be 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

#elliottwave #banknifty #niftybank