Good morning, friends! Here are the directions for April 22nd:
The global market trend is bearish, supported by the Dow Jones, while our local market sentiment also indicates a moderately bullish trend. It might open with a gap-up start, as suggested by GiftNifty, showing a +160 point increase.
Nifty had a solid pullback in the previous session. GiftNifty suggests that the pullback will continue into today's opening. The market may open with a minimum of 100 points positive; however, if it rejects around the immediate resistance level, it could retrace by a minimum of 23% to 38%. If this correction occurs, could we take it as a bearish trend structurally? The answer is no. Because the previous pullback occurred in a three-wave structure, then we can consider this correction as bearish. If the pullback were in a straight line, representing a single wave, then the bearish bias would be much less. After the minor correction, it may resume another pullback, indicating a range-bound market.
Alternatively, if the opening market has a solid structure, then it may further rally with minor consolidations.
The global market trend is bearish, supported by the Dow Jones, while our local market sentiment also indicates a moderately bullish trend. It might open with a gap-up start, as suggested by GiftNifty, showing a +160 point increase.
Nifty had a solid pullback in the previous session. GiftNifty suggests that the pullback will continue into today's opening. The market may open with a minimum of 100 points positive; however, if it rejects around the immediate resistance level, it could retrace by a minimum of 23% to 38%. If this correction occurs, could we take it as a bearish trend structurally? The answer is no. Because the previous pullback occurred in a three-wave structure, then we can consider this correction as bearish. If the pullback were in a straight line, representing a single wave, then the bearish bias would be much less. After the minor correction, it may resume another pullback, indicating a range-bound market.
Alternatively, if the opening market has a solid structure, then it may further rally with minor consolidations.
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.