Good morning, friends! 🌞 Here are the market directions and levels for November 11th.
Market Overview:
The global markets are maintaining a bullish sentiment (based on the Dow Jones), while our local market is displaying a moderately bearish outlook. Today, we might see the market open with a neutral to slightly gap-down start, as indicated by the Gifty Nifty showing a decline of 70 points.
In the previous session, both Nifty and Bank Nifty showed strong movement, but the fluctuations resembled a diagonal pattern. If the market starts off neutral, this diagonal trend may continue. Conversely, if the market experiences a significant decline, it could reach the bottom of the recent swing.
> Currently, there are no structural changes; we remain in a range-bound market. Let’s take a look at the charts.
Both Nifty and Bank Nifty are following a similar structure.
Nifty Current View:
The current view suggests that if the market finds support at the level of 24010 and gradually moves up, or if the market takes a solid pullback initially, then we can expect a minimum pullback of 38% to 50%. This is our first variation.
Alternate View:
The alternate view suggests that if the market sustains the gap down or declines solidly, then the correction will likely continue to the level of 78% to MDZ.
Market Overview:
The global markets are maintaining a bullish sentiment (based on the Dow Jones), while our local market is displaying a moderately bearish outlook. Today, we might see the market open with a neutral to slightly gap-down start, as indicated by the Gifty Nifty showing a decline of 70 points.
In the previous session, both Nifty and Bank Nifty showed strong movement, but the fluctuations resembled a diagonal pattern. If the market starts off neutral, this diagonal trend may continue. Conversely, if the market experiences a significant decline, it could reach the bottom of the recent swing.
> Currently, there are no structural changes; we remain in a range-bound market. Let’s take a look at the charts.
Both Nifty and Bank Nifty are following a similar structure.
Nifty Current View:
The current view suggests that if the market finds support at the level of 24010 and gradually moves up, or if the market takes a solid pullback initially, then we can expect a minimum pullback of 38% to 50%. This is our first variation.
Alternate View:
The alternate view suggests that if the market sustains the gap down or declines solidly, then the correction will likely continue to the level of 78% to MDZ.
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.