#Banknifty directions and levels for February 14th:
Current View
We are in the mid-level of the current swing, so we cannot take a single-direction approach. However, the trend shows a slightly bearish bias. If the initial market declines, we can expect a minimum downside of 49,159. This is an Expanding Flat correctional pullback zone. If the market rejects sharply from this zone, we can expect a pullback that could at least reach today’s opening level.
> On the other hand, if the decline has a solid structure and breaks this zone or consolidates around it, the correction is likely to continue.
Alternate View
The alternate view suggests that if the market sustains the gap-up, 49,716 will act as a major resistance. So, until this level is broken, we can expect consolidation within the previous day’s range. If it breaks with a solid structure, the next target will be the top of the channel.
We are in the mid-level of the current swing, so we cannot take a single-direction approach. However, the trend shows a slightly bearish bias. If the initial market declines, we can expect a minimum downside of 49,159. This is an Expanding Flat correctional pullback zone. If the market rejects sharply from this zone, we can expect a pullback that could at least reach today’s opening level.
> On the other hand, if the decline has a solid structure and breaks this zone or consolidates around it, the correction is likely to continue.
Alternate View
The alternate view suggests that if the market sustains the gap-up, 49,716 will act as a major resistance. So, until this level is broken, we can expect consolidation within the previous day’s range. If it breaks with a solid structure, the next target will be the top of the channel.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.