#banknifty directions and levels for October 11th.
Bank Nifty Current View:
The sentiment is similar to Nifty. If the market starts neutral or negative, it may consolidate between minor 38% and the upside level of 51,812. After this, if a breakout occurs, we can follow the direction, whether to the upside or downside. This is our first variation.
Alternate View:
The alternate view suggests that if the market breaks or consolidates around the immediate support level (minor 38%), the correction may continue towards 51,065 to 50,806 on the downside.
The sentiment is similar to Nifty. If the market starts neutral or negative, it may consolidate between minor 38% and the upside level of 51,812. After this, if a breakout occurs, we can follow the direction, whether to the upside or downside. This is our first variation.
Alternate View:
The alternate view suggests that if the market breaks or consolidates around the immediate support level (minor 38%), the correction may continue towards 51,065 to 50,806 on the downside.
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