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subhagghosh
Mar 16, 2021 12:32 PM

#banknifty analysis for 17th Mar:- 

Nifty Bank IndexNSE

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#banknifty analysis for 17th Mar:-

#banknifty PCR is 0.50, for every put written, we have 2x call written off, short-covering, it comes, can be deadly.

Decision Zone :- 34,996 - 35,199 is a no trading zone, above positive & below negative.

Currently, the range is 34,500 to 36,100

Support:- 34,700 / 34,550 / 34,400

Resistance:- 35,328 /34,572 /35,686 / 36,028 / 36,463

It's a flag formation on an hourly time frame, probability is for the higher breakout.

My basic analysis remains the same:-


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.

Ref:- Elliot Wave 1 H TF analysis:-


Regards,
SG
Comments
subhagghosh
Noise is everywhere, focus on your goals, what people says doesn't matter.

karmany evadhikaras te
ma phalesu kadacana 
ma karma-phala-hetur bhur
ma re sango'stv akarmani

You have a right to perform your prescribed duty, but you are not entitled to the fruits of action. Never consider yourself the cause of the results of your activities, and never be attached to not doing your duty🙏
Rakeshkumar01
Thx
kshitizchoudhary8179
Thank you for amazing analysis . Mentor
reignsApurba
Finally 34700 worked as a great support. Fully recovered yesterday loss. Booked 230 points After 1.30 PM... ❤❤❤❤
any_money
nice, and with good data summary
Subhagkimaakadhinkachika
Oh dude plz stop copying man.plz just stop pasting others ideas
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