Markets seduce greedy traders into buying positions that are too large for their accounts and then destroy them with a reaction they cannot afford to sit out. They shake fearful traders out of winning trades with brief countertrend spikes before embarking on runaway moves.Lazy traders are the favorite victims of the market, which keeps throwing new tricks at the unprepared. Whatever your psychological flaws and fears, whatever your inner demons, whatever your hidden weaknesses and obsessions, the market will seek them out, find them, and use them against you, like a skilled wrestler uses his opponent’s own weight to toss him to the ground.
Breakout confirmation above 366.
Buy above 366 Tgt 374,378 and 384
Sell below 354 Tgt 350,344 and 338
Bank ifty breached the laxam reakha of 10135 made a quick low of 10125 and bounced back again.
Strong buying hands are supporting the index at lower levels. Break of 10125 on closing basis will spell trouble for Bulls so keep a SL of 10125 on bank Nifty for all longs.
Buy above 10350 Tgt 10423,10500,10553
Sell below 10274 Tgt 10200,10125 and 10030
Positional Traders Hold shorts if close below 10125
ICICI Bank is also showing symmetrical triangle formation which is a consolidation pattern. 895 on closing basis should be SL for longs.
Buy above 911 Tgt 923,932,939 and 949
Sell below 894 Tgt 884 and 875