Good morning, friends! 🌞
Here are the market directions and levels for July 23rd:
The global market shows no major changes and continues to maintain a moderately bearish sentiment.
Meanwhile, the local market is exhibiting a moderately bullish tone. Today, Gift Nifty indicates a gap-up opening of around 60 points.
What can we expect today?
In the previous session, both Nifty and Bank Nifty couldn't sustain the gap-up start. Structurally, we are still in an unclear zone.
However, my expectation is that today’s market may take some consolidation after the gap-up start.
Looking at the chart, the current view suggests:
* If the market sustains the gap-up and breaks the immediate resistance, we can expect the pullback to continue with a moderately bullish tone.
Alternate view:
* If the gap-up doesn’t sustain and the market declines initially, it may reach the immediate support level.
* If a pullback happens from there, we can expect a range-bound market.
* Conversely, if the support breaks, the correction is likely to continue.
Here are the market directions and levels for July 23rd:
The global market shows no major changes and continues to maintain a moderately bearish sentiment.
Meanwhile, the local market is exhibiting a moderately bullish tone. Today, Gift Nifty indicates a gap-up opening of around 60 points.
What can we expect today?
In the previous session, both Nifty and Bank Nifty couldn't sustain the gap-up start. Structurally, we are still in an unclear zone.
However, my expectation is that today’s market may take some consolidation after the gap-up start.
Looking at the chart, the current view suggests:
* If the market sustains the gap-up and breaks the immediate resistance, we can expect the pullback to continue with a moderately bullish tone.
Alternate view:
* If the gap-up doesn’t sustain and the market declines initially, it may reach the immediate support level.
* If a pullback happens from there, we can expect a range-bound market.
* Conversely, if the support breaks, the correction is likely to continue.
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.