Good morning, friends! 🌞 Here are the market directions and levels for September 27th.
Market Overview:
There have been no significant changes in the global and local markets; both maintain a bullish bias. Today, the market is expected to open neutral to slightly negative, with SGX Nifty indicating a negative of around -20 points as of 8 AM.
In the previous session, the market had a minor movement in the second half. Structurally, it still maintains a bullish bias. So even if the market starts negatively today, the bullish momentum might continue. However, if the initial market declines sharply, we should follow that; let’s look at this in the charts.
Nifty and Bank Nifty both share the same sentiment.
Nifty Current View:
The current view indicates that if the market opens with a gap-up or if the initial market takes support around the Fibonacci level of 38%, then the rally will continue if it breaks the previous high. Until then, it could consolidate between the previous high and the Fibonacci level of 38%. This is our first scenario.
Alternate View:
The alternate view suggests that if the initial market breaks the Fibonacci level of 38% solidly, then the trend will turn into a minor correction phase. If this happens, we can expect correctional targets between 50% and 78% in the minor swing.
Market Overview:
There have been no significant changes in the global and local markets; both maintain a bullish bias. Today, the market is expected to open neutral to slightly negative, with SGX Nifty indicating a negative of around -20 points as of 8 AM.
In the previous session, the market had a minor movement in the second half. Structurally, it still maintains a bullish bias. So even if the market starts negatively today, the bullish momentum might continue. However, if the initial market declines sharply, we should follow that; let’s look at this in the charts.
Nifty and Bank Nifty both share the same sentiment.
Nifty Current View:
The current view indicates that if the market opens with a gap-up or if the initial market takes support around the Fibonacci level of 38%, then the rally will continue if it breaks the previous high. Until then, it could consolidate between the previous high and the Fibonacci level of 38%. This is our first scenario.
Alternate View:
The alternate view suggests that if the initial market breaks the Fibonacci level of 38% solidly, then the trend will turn into a minor correction phase. If this happens, we can expect correctional targets between 50% and 78% in the minor swing.
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.