#banknifty view for next week 29th Oct'21 - 4th Nov'21:-
In an uptrend, the pullbacks are very common and as long as 50 DMA (37,590) is not violated, the trend remains up, and generally price retracing to 20 DMA ( 38,986) is considered as pull back.
we have an identical set for the 1st week of Oct and will this scenario will be replicated?
I still see no reason to be panic in the market, because I can't see it in price.
The view might change below 38,377 gets breached.
DP :- 39,353 (above +ve and below -ve)
E.g. One of the important DP is the weekly low, if the weekly low is broken, then only you will be 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.
weekly candle have not yet closed bearish, so it is Just kind of profit booking after a three week's bull run we can expect an up ward Move slow and steady but suerly
vardhmaangraphics
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Wow dada same thing maine bhi socha tha 20 ema se support lena chahiye, aapke analysis dekhe kar ab thoda thoda hame bhi aane laga hai, Thanks Dada for your learnings
warm welcome sir, back into Trading View network . many people are waiting for your post last 2 weeks
Parasuram
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My friend both Nifty and bank nifty has made major tops for atleast a year if not for years.. there will be bounce but certainly not new highs.
eternallearner
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if it bounce from here or 20DMA or from wave 1 top(invalidation level),can it travel more than wave 1 of 5th which is under 2000 pts as wave 3 was already extended & wave 5 is also much more than wave 1. So tgt of 5th wave may be a little lower around 42000.What do u think boss?