#banknifty analysis for 27th Jan'2021
Lower side 30,910 is a critical decision point, if the low is breached and holds for 15 mins, the up-move structure will break, and we will enter into a short term bearishness, which gives a lower target of around 29k.
On the upside, if we cross, 31,930 and hold then again "all is well"
Decision Zone:- 31,256 - 31,307
Upper Targets:- 31,620 / 31,738 / 31,906 / 32,392
Lower Targets: 31,120 / 30,910 / 30,640 / 30,453 / 29,804
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
Lower side 30,910 is a critical decision point, if the low is breached and holds for 15 mins, the up-move structure will break, and we will enter into a short term bearishness, which gives a lower target of around 29k.
On the upside, if we cross, 31,930 and hold then again "all is well"
Decision Zone:- 31,256 - 31,307
Upper Targets:- 31,620 / 31,738 / 31,906 / 32,392
Lower Targets: 31,120 / 30,910 / 30,640 / 30,453 / 29,804
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
