#banknifty analysis for 4th Feb #expiry special
Updated
#banknifty analysis for 4th Feb #expiry special
5 trading session 5220 point rally, divergence on RSI & MACD crossover on the verge, but the price needs to confirm the corrective wave.
It's too fast & furious rally to sustain, better to book out the profit.
Positional short only below 34,050.
Decision Zone:- 34,583 - 34,655
Upper Targets:- 34,791 / 35,321 / 35,997 ( 600 points gap in targets, better break the target every 300 points)
Lower Targets: 34,419 / 34,047 / 33,586 / 32,842
Don't short the market, until 32,167 breaks, till then use the dip to go long.
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
5 trading session 5220 point rally, divergence on RSI & MACD crossover on the verge, but the price needs to confirm the corrective wave.
It's too fast & furious rally to sustain, better to book out the profit.
Positional short only below 34,050.
Decision Zone:- 34,583 - 34,655
Upper Targets:- 34,791 / 35,321 / 35,997 ( 600 points gap in targets, better break the target every 300 points)
Lower Targets: 34,419 / 34,047 / 33,586 / 32,842
Don't short the market, until 32,167 breaks, till then use the dip to go long.
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
Trade closed: target reached
both side targets done
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