Manickamtraders

#Banknifty directions and levels for NOV 30

NSE:BANKNIFTY   NIFTY Bank Index
"Good morning, friends🌺! As of November 30th, the global market sentiment remains bullish, supported by the Dow Jones. However, our local market exhibits a significantly bullish trend. It might open with a neutral to a slight gap-down, considering the GiftNifty value at -10.

Structurally, it appears to be a range-bound market. Even if it opens with a gap-up or gap-down, a minor correction of 23 to 38% can be expected. The rally will persist only if the market solidly breaks the immediate resistance level.

This same sentiment applies to a bearish structure, indicating that a correction will occur only if it breaks the 38% Fibonacci level. Until then, we can anticipate the market remaining within a range."

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