Bank Nifty Trading Strategy for 28th Dec'2020

#BankNifty Trading Strategy for 28th Dec'2020

Decision Zone:- 30,354 - 30,280

Smaller Range:- 29,950 - 31,200

Medium Range:- 29,450 - 31,480

Upper Targets: 30,525 / 30,625 / 30,850 / 30,945 / 31,480 & Lower Targets: 30,100 / 29,850 / 29,574

GAP :- 30,607 - 30,652, 78.6% of the fall is 30,523, this zone 30,600 - 30,650 will be tough to cross, if crossed, go long for higher targets.

Lower side GAP :- 29,941.4 - 30,007.80, will act as support, if breached, go short for lower levels.

I see Gartley or a Butterfly harmonic formation, in any case the decision zone will take care of the trades.

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