sreebhashyam

BANKNIFTY: Choose Noise or Less!

NSE:BANKNIFTY   Nifty Bank Index
Place of action and attraction. Piece of Misery and Mystery.

Some choose a day, some choose week, some choose months, the end is the channel, but inability to channel one's thoughts and resultant actions.

Blame hunting, stops, Algo. Algo is GIGO. It does not do anything that you did not ask for!

While short term moves are nothing but noise, there are ways and means to reduce that decibel and find your solace.

This is where the noiseless charts come handy. The tell a story that can be seen differently

The channel looks different, while one can pencil the area of support.

Last support for the bulls is 47200 while the bears it is 48800

Some places rosy, some moody. Net this will go along with others than these leading others. PSU banks showing stress and supply, some places the 14-year supply line holding the incremental gain, despite the big picture being intact.

That circles the near term 47300-48300 range.

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