#banknifty analysis for 8th Feb
7 trading session 6927.5 point rally, it's too fast & furious rally to sustain and have to cool down.
Gravestone Doji on the daily chart on Friday, until Friday's high, is not crossed, the index will be under pressure.
Decision Zone:- 35,545 -35,979, trend deciding levels 35,750
Upper Targets:- 35, 950 / 36100 / 36300 / 36500
Lower Targets: 35344 / 35048 / 34800 / 33992 / 33182
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
7 trading session 6927.5 point rally, it's too fast & furious rally to sustain and have to cool down.
Gravestone Doji on the daily chart on Friday, until Friday's high, is not crossed, the index will be under pressure.
Decision Zone:- 35,545 -35,979, trend deciding levels 35,750
Upper Targets:- 35, 950 / 36100 / 36300 / 36500
Lower Targets: 35344 / 35048 / 34800 / 33992 / 33182
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
