#Banknifty directions and Levels for April 25th.
BankNifty slightly varies from Nifty. We have a clear correctional variation: if the market sustains the gap-down, it may go into flat correction, reaching a minimum of 47853 to the 38% Fibonacci level. One more thing, if it finds support around 47853-50, then we can expect a range market, possibly reaching the previous high again. But there's no problem if it's in the 38%, so here also, don't take advance long positions at the 38% Fibonacci level.
The alternate variation suggests that if the gap-down doesn't sustain and takes an immediate pullback, then it might undergo further range market. After that consolidation, if it breaks the previous high, then we can expect a rally continuation.
However, if the market opens against the sentiment, which means if the market opens neutral or gap-up, then we can expect a rally, potentially breaking the previous high.
The alternate variation suggests that if the gap-down doesn't sustain and takes an immediate pullback, then it might undergo further range market. After that consolidation, if it breaks the previous high, then we can expect a rally continuation.
However, if the market opens against the sentiment, which means if the market opens neutral or gap-up, then we can expect a rally, potentially breaking the previous high.