#banknifty analysis for 21th May'2021
We are in wave 4 of pullback, should ideally take support from the 33,129 - 33,368 zone to continue its journey towards 34,837 to 35,270.
Some people will criticize, the analysis violates the basic rule of EV, wave 4 enters wave 1 territory, but I am not here to prove EV is right or wrong, but to show you how #banknifty behaves.
Decision Zone:- 33,400 - 33,555
Resistance:- 33,720 / 33,918 / 34,245 / 34,509 / 34,772
Support Zone :- 33,368 / 33,129 / 32,889
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
We are in wave 4 of pullback, should ideally take support from the 33,129 - 33,368 zone to continue its journey towards 34,837 to 35,270.
Some people will criticize, the analysis violates the basic rule of EV, wave 4 enters wave 1 territory, but I am not here to prove EV is right or wrong, but to show you how #banknifty behaves.
Decision Zone:- 33,400 - 33,555
Resistance:- 33,720 / 33,918 / 34,245 / 34,509 / 34,772
Support Zone :- 33,368 / 33,129 / 32,889
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
