BankNifty slightly varies from Nifty. We have a clear correctional variation: if the market sustains the gap-down, it may go into flat correction, reaching a minimum of 47853 to the 38% Fibonacci level. One more thing, if it finds support around 47853-50, then we can expect a range market, possibly reaching the previous high again. But there's no problem if it's in the 38%, so here also, don't take advance long positions at the 38% Fibonacci level.
The alternate variation suggests that if the gap-down doesn't sustain and takes an immediate pullback, then it might undergo further range market. After that consolidation, if it breaks the previous high, then we can expect a rally continuation.
However, if the market opens against the sentiment, which means if the market opens neutral or gap-up, then we can expect a rally, potentially breaking the previous high.
The alternate variation suggests that if the gap-down doesn't sustain and takes an immediate pullback, then it might undergo further range market. After that consolidation, if it breaks the previous high, then we can expect a rally continuation.
However, if the market opens against the sentiment, which means if the market opens neutral or gap-up, then we can expect a rally, potentially breaking the previous high.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.