#BankNifty Trading Strategy for 31st Dec'2020 (Year-end #expiry)
31,650-31,750 is a very important level, but the upside breakout of an uptrend does not sustain and fall back to the channel, if this doesn't happen on expiry, then might be in the next couple of days.
I will be very cautious with my trades.
Decision Zone:- 31,240 -31,360
Smaller Range:- 30,650 - 31,700
Medium Range:- 29,700 - 32,000
Upper Targets: 31,401 / 31,510 / 31,648 / 31,704 / 31,824
Lower Targets: 31,100 / 31,020 / 30,850 / 30,540
Positional short levels are apparent; it's below 31,000 closings.
Supporting analysis on lower TF for better clarity:-
I wish you to look forward to the upcoming year with confidence and courage, giving wings to your dreams! Live your life to the fullest extent, Happy New Year!
Note:- I won't be posting the analysis for 1st Jan'2021, as I will be traveling but will try to updates the 1st Jan levels on this post's comments, so keep watching.
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
31,650-31,750 is a very important level, but the upside breakout of an uptrend does not sustain and fall back to the channel, if this doesn't happen on expiry, then might be in the next couple of days.
I will be very cautious with my trades.
Decision Zone:- 31,240 -31,360
Smaller Range:- 30,650 - 31,700
Medium Range:- 29,700 - 32,000
Upper Targets: 31,401 / 31,510 / 31,648 / 31,704 / 31,824
Lower Targets: 31,100 / 31,020 / 30,850 / 30,540
Positional short levels are apparent; it's below 31,000 closings.
Supporting analysis on lower TF for better clarity:-
I wish you to look forward to the upcoming year with confidence and courage, giving wings to your dreams! Live your life to the fullest extent, Happy New Year!
Note:- I won't be posting the analysis for 1st Jan'2021, as I will be traveling but will try to updates the 1st Jan levels on this post's comments, so keep watching.
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
