In the last 4 day's bulls can consolidate on the higher side and this is a good sign and signifies time correction, either we carry on with time correction for the next couple of days before again moving up.
In the ascending triangle formation, a breakout on either side has to be tracked and positional trades have to be taken accordingly.
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.
@mnm1970 line was right, missed to update the decisions zone writeup on chart.
Maddyebs
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thank you
Karthikeyan_S
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Thank you
pachhaks
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Hi @subhagghosh sir, i have been following your analysis on Bank Nifty from quite some time and they have been really helpful. Your approach and insights are really great. Thanks for that. I bought RIL today in options. Can you please suggest what could be the target price for RIL till which i can hold it?
subhagghosh
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@pachhaks stock options are way to destruction, pls exit and take delivery for 2250 to 2400 targets🙏
Thanks SG. As always much appreciated with ur analysis of pre market. I know how much time and effort u put everyday for us.
I needed some guidance values to use for Stop loss and Risk reward in Bank Nifty Futures. Kindly share ur thoughts. I guess the volitality is a challenge to decide a appropriate setup.
Many thanks
Rakesh
subhagghosh
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@rnrakesh Trade in direction of trend, keep max 75 SL in future , option buying or selling based on chart max 37 point as SL.