#banknifty analysis for 12th May'2021 #Expiry
The regression line shows we are moving up only, on a daily time frame we are neutral. This indicates, either we will consolidate or move up. I don't see weakness until we close below 32,500.
Decision Zone:- 32,875 (Above positive & below negative)
Resistance:- 33,150 / 33,297 / (33,320 - 33,455 )
Support Zone :- 32,733 / (32,455 - 32,611)
SL for positional long, closing below (32,455 - 32,611)
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
The regression line shows we are moving up only, on a daily time frame we are neutral. This indicates, either we will consolidate or move up. I don't see weakness until we close below 32,500.
Decision Zone:- 32,875 (Above positive & below negative)
Resistance:- 33,150 / 33,297 / (33,320 - 33,455 )
Support Zone :- 32,733 / (32,455 - 32,611)
SL for positional long, closing below (32,455 - 32,611)
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
