#banknifty analysis for 19th Feb
Six days of consolidation, followed by one & half days of breakout and then three & half days of pullback to breakout levels, that's what I see.
Ideally, if breakout holds, we might move toward 37,700 to 38,200 levels, and if not we might test 35,550 levels.
Decision Zone:- 36,582 - 36,661
Upper Targets:- 36,837 / 37,170 / 37,450
Lower Targets: 36,299 / 35,916 / 35,550
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
Six days of consolidation, followed by one & half days of breakout and then three & half days of pullback to breakout levels, that's what I see.
Ideally, if breakout holds, we might move toward 37,700 to 38,200 levels, and if not we might test 35,550 levels.
Decision Zone:- 36,582 - 36,661
Upper Targets:- 36,837 / 37,170 / 37,450
Lower Targets: 36,299 / 35,916 / 35,550
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
