#banknifty analysis for 18th June'2021
Deleted the whole chart and recreated it, 35,500 zones will be a hurdle zone, still, I see RRR is in favor of long, Oscillators is already in the oversold zone.
Note:- Majority of pivot points are in 35100 are and 10 & 20 DMA is placed at 35,060 & 35,081 respectively, till we cross 35,100 selling pressure will continue.
100 DMA is at 34,054, this 34K area will act as strong support.
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.
#elliottwave #nse # nifty #banknifty
Regards,
SG.
Deleted the whole chart and recreated it, 35,500 zones will be a hurdle zone, still, I see RRR is in favor of long, Oscillators is already in the oversold zone.
Note:- Majority of pivot points are in 35100 are and 10 & 20 DMA is placed at 35,060 & 35,081 respectively, till we cross 35,100 selling pressure will continue.
100 DMA is at 34,054, this 34K area will act as strong support.
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.
#elliottwave #nse # nifty #banknifty
Regards,
SG.
Trade closed: stop reached:
STOP LOSS triggered, idea failed.
