Bank Nifty Trading Strategy for 23rd Dec'2020

#BankNifty Trading Strategy for 23rd Dec'2020

Wave 5 is completed, the First leg of correction Wave A seems to be complete and we are in Wave B of pullback.

Decision Zone:- 29,343 - 29,543

Smaller Range:- 29,201 - 29,950

Medium Range:- 28,732 - 30,291

Upper Targets: 29,728 / 29,950 / 30,042 / 30,193 / 30,523

Lower Targets: 29,201 / 29,045 / 28,976 / 28,732 / 28,580 / 28,397

Try to read the market in context to the larger picture:-

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.

For 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.