Banknifty analysis for 20/08/24.
A flag and pole pattern formation is there on the charts. While market is trading around the resistance zone of the range.
If there is a break out of the Flag, wait for the market to clear the resistance levels.
A scalp can be made for small targets but intraday position should be initiated only once the upper levels are cleared.
Moving average gate is being formed acting as a support for the market.
Levels are marked on the charts. Trade only the markets not the emotions.
Wait for the price action near the levels before entering the markets .
If there is a break out of the Flag, wait for the market to clear the resistance levels.
A scalp can be made for small targets but intraday position should be initiated only once the upper levels are cleared.
Moving average gate is being formed acting as a support for the market.
Levels are marked on the charts. Trade only the markets not the emotions.
Wait for the price action near the levels before entering the markets .
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