#Banknifty directions and levels for June 12th.
Good morning, friends! 🌺🍬 Here are the directions for June 12th:
There are no significant changes in the global and our market. It is still maintaining a moderately bullish sentiment. Today, the market may open with a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 40 points.
We are going to follow yesterday's sentiments. Nifty and BankNifty both consolidated in the previous session as well.
It's a range-bound market, so the market may consolidate within the range of the past two trading sessions.
However The proper statement is: if the market opens neutral, or if it takes support around the immediate support level, then we can expect a minimum of a 78% bounce back in the minor swing. the rally will continue only If it breaks the previous high. otherwise the range only will continue.
Alternatively, if the market takes a sharp decline initially, we can expect the correction to continue with minor consolidations around 23,029 for Nifty and 49,268 for BankNifty. Here, the structure is important. If it has a solid reddish candle, we can expect a correction; otherwise, the range may continue further.
There are no significant changes in the global and our market. It is still maintaining a moderately bullish sentiment. Today, the market may open with a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 40 points.
We are going to follow yesterday's sentiments. Nifty and BankNifty both consolidated in the previous session as well.
It's a range-bound market, so the market may consolidate within the range of the past two trading sessions.
However The proper statement is: if the market opens neutral, or if it takes support around the immediate support level, then we can expect a minimum of a 78% bounce back in the minor swing. the rally will continue only If it breaks the previous high. otherwise the range only will continue.
Alternatively, if the market takes a sharp decline initially, we can expect the correction to continue with minor consolidations around 23,029 for Nifty and 49,268 for BankNifty. Here, the structure is important. If it has a solid reddish candle, we can expect a correction; otherwise, the range may continue further.
Penafian
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