#Banknifty directions and levels for January 31st
#Banknifty
There are no changes in the Banknifty chart, and it still has a FLAG pattern structure. So, if the market breaks the previous high, we can expect a rally continuation. However, if the market rejects around 38%, then we can expect a minor correction of 23 to 38%.
An alternate view is important. If the market opens with a gap-down, the level of 45045 will act as a strong support. However, if it doesn't find support there, then we can expect an aggressive correction. This is because yesterday's consolidation may act as a supply, and the correction may occur with heavy volume
There are no changes in the Banknifty chart, and it still has a FLAG pattern structure. So, if the market breaks the previous high, we can expect a rally continuation. However, if the market rejects around 38%, then we can expect a minor correction of 23 to 38%.
An alternate view is important. If the market opens with a gap-down, the level of 45045 will act as a strong support. However, if it doesn't find support there, then we can expect an aggressive correction. This is because yesterday's consolidation may act as a supply, and the correction may occur with heavy volume
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.