#Banknifty directions and levels for August 21st.
Current View
> That,The market may open with a slight gap-down start, according to the SGX Nifty indication. So, after that gap-down, if the market finds support around the immediate support level, it may consolidate between the previous day's high and the immediate support level.
> But, Even if it consolidates, structurally, it will continue the rally once it breaks the previous day's high. In this case, if it breaks the previous high without consolidation (like yesterday’s movement), the same bullish trend may continue further.
Alternate View
> The alternate scenario suggests that if the gap-down sustains and the market breaks the immediate support level solidly, then the correction could continue, with some minor bounce-backs. These are the two possible scenarios for today's session.
> That,The market may open with a slight gap-down start, according to the SGX Nifty indication. So, after that gap-down, if the market finds support around the immediate support level, it may consolidate between the previous day's high and the immediate support level.
> But, Even if it consolidates, structurally, it will continue the rally once it breaks the previous day's high. In this case, if it breaks the previous high without consolidation (like yesterday’s movement), the same bullish trend may continue further.
Alternate View
> The alternate scenario suggests that if the gap-down sustains and the market breaks the immediate support level solidly, then the correction could continue, with some minor bounce-backs. These are the two possible scenarios for today's session.
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