#Banknifty directions and levels for July 8th

Jul 8

The Bank Nifty structure differs from Nifty, but the sentiment is the same. So, if the market opens with a gap-down and sustains, we can expect a minimum of 52,511 to 52,385. After that, if it consolidates or breaks, then the correction will likely continue, and we can expect the next target to be the swing low to the minor demand zone. On the other hand, if it rejects around 52,385, then we can expect a range market, meaning the market may reach the previous high again.

Alternatively, if the initial market takes a pullback, then it may reach a minimum of 52,765 to 61% with minor consolidations.