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subhagghosh
May 3, 2021 7:35 PM

#banknifty analysis for 4th May:- Long

Nifty Bank IndexNSE

Description

#banknifty analysis for 4th May:-

Decision Zone:- 32,566 - 32,663

Resistance Zone:- 32,804 - 32,926 / 33,247 - 33,456

Support Zone :- 32,346 / 32,147 / 31,188

SL for positional long 31,565

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
Comments
Rakeshkumar01
Thx
rajataf11
hey, can i expect 33300 by this 6th may expiry?
speedchillz
Wave 4 going below 2 is not impulse. Instead a corrective zigzag. If appears you have forced EW into it.
subhagghosh
@speedchillz Absolutely correct, but in index, specially bn, u don't get ideal EW.

So if the breach is not more than 38.2%, pattern, the theory works.

Practice experience, rest if u go with copy book methods, this analysis is wrong.
subhagghosh
Everyday posting analysis requires a lot of effort, more than 7000 people follows me here, all are fools except you.

You hide behind a ghost name to troll, @moderators should have a look into such idiotic posts and ghost accounts spreading nuisance.
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