#banknifty analysis for 24th May'2021
AB = CD pattern observed, Wave 3, Harmonic all are giving a target of 35,200 +- 200 range, which might be a potential reversal point, before any next significant move.
Decision Line:- 34,598
Resistance:- 34,867 / 35,071 - 35,271 / 35,852
Support Zone :- 34,287 / 34,048 , 33,752
Ref:-
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
AB = CD pattern observed, Wave 3, Harmonic all are giving a target of 35,200 +- 200 range, which might be a potential reversal point, before any next significant move.
Decision Line:- 34,598
Resistance:- 34,867 / 35,071 - 35,271 / 35,852
Support Zone :- 34,287 / 34,048 , 33,752
Ref:-
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
