#Banknifty directions and level for September 3rd.
Bank Nifty
Current View:
There is not much difference compared to Nifty sentiment. If the market opens with a gap-up or if it finds support around the 38% Fibonacci level or the demand zone on the downside, the range-bound market is likely to continue.
Alternate View:
If the correction takes a sharp decline and consolidates or breaks the demand zone, it could fall further to the 78% Fibonacci level or to the swing low.
Current View:
There is not much difference compared to Nifty sentiment. If the market opens with a gap-up or if it finds support around the 38% Fibonacci level or the demand zone on the downside, the range-bound market is likely to continue.
Alternate View:
If the correction takes a sharp decline and consolidates or breaks the demand zone, it could fall further to the 78% Fibonacci level or to the swing low.
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