#Banknifty directions and levels for Friday, December 27th:
Bank Nifty Current View
The Bank Nifty's current view indicates that if the market declines after the gap-up, we can expect the correction to continue, accompanied by some consolidation. The corrective targets are expected to reach a minimum of 50,851, based on the Elliott Wave structure.
Alternate View: If the gap-up sustains, Bank Nifty could rise to a maximum of 51,571, which acts as a major resistance. Here, it is important to note that we are in a corrective wave. Until the previous high is broken, further continuation cannot be expected.
If the previous range breaks, we can anticipate targets around 51,943 to 52,174. Conversely, if the market does not break 51,571, some consolidation before the correction is likely.
The Bank Nifty's current view indicates that if the market declines after the gap-up, we can expect the correction to continue, accompanied by some consolidation. The corrective targets are expected to reach a minimum of 50,851, based on the Elliott Wave structure.
Alternate View: If the gap-up sustains, Bank Nifty could rise to a maximum of 51,571, which acts as a major resistance. Here, it is important to note that we are in a corrective wave. Until the previous high is broken, further continuation cannot be expected.
If the previous range breaks, we can anticipate targets around 51,943 to 52,174. Conversely, if the market does not break 51,571, some consolidation before the correction is likely.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.