The global markets are still bullish, while our local market is showing a moderately bearish trend. Therefore, there is no clear direction for the short term. Today, the market may open with a slightly positive start. If this happens, we can expect that Friday's pullback may continue further. Let's explain it one by one.
Current View:
If the gap-up sustains, we can expect the pullback to continue, with some consolidation around the resistance levels. For Nifty, the expected target range is 25003 to 25059
Alternate View:
The alternate view indicates that if the market declines initially, or if it rejects around the immediate resistance, we can expect a correction of38% to50%.
> It is important to note that we cannot assume this is a correction even if the market breaks the50% Fibonacci level, as the structure exhibits a bit of a bullish bias. Therefore, we should look for some additional confirmation to predict the correction. If this happens, I will inform you during market hours.
Current View:
If the gap-up sustains, we can expect the pullback to continue, with some consolidation around the resistance levels. For Nifty, the expected target range is 25003 to 25059
Alternate View:
The alternate view indicates that if the market declines initially, or if it rejects around the immediate resistance, we can expect a correction of38% to50%.
> It is important to note that we cannot assume this is a correction even if the market breaks the50% Fibonacci level, as the structure exhibits a bit of a bullish bias. Therefore, we should look for some additional confirmation to predict the correction. If this happens, I will inform you during market hours.
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.