#banknifty #budget2022 special analysis:-
People were eagerly waiting for this budget day analysis and here you go:-
1. There is no weakness in the BN on the chart, price is above (5/10/20/200 DMA placed at 37,660/37,819/37,837/36,133)
2. There is a correction ( time correction) that is happening for the last few weeks, before the next upmove.
3. Friday high & low are important ( 38,421 & 37,581)
4. Laxman Rekha is placed at 37,602 - 37,714:- above positive & below negative
5. If we assume there is an impulse wave running, then the upside targets are 38,533 / 39,121 / 39,483 and above.
6. The important reaction points are marked in the chart as zone areas, where price trend to react fast leaving those areas.
You need to believe what you see on the chart and ignore the rest.
Wish you all the very best for the budget day trading.
Regards,
SG
People were eagerly waiting for this budget day analysis and here you go:-
1. There is no weakness in the BN on the chart, price is above (5/10/20/200 DMA placed at 37,660/37,819/37,837/36,133)
2. There is a correction ( time correction) that is happening for the last few weeks, before the next upmove.
3. Friday high & low are important ( 38,421 & 37,581)
4. Laxman Rekha is placed at 37,602 - 37,714:- above positive & below negative
5. If we assume there is an impulse wave running, then the upside targets are 38,533 / 39,121 / 39,483 and above.
6. The important reaction points are marked in the chart as zone areas, where price trend to react fast leaving those areas.
You need to believe what you see on the chart and ignore the rest.
Wish you all the very best for the budget day trading.
Regards,
SG
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