Bank Nifty Current View:
Bank Nifty is also following the Nifty sentiment. If the market opens with a gap-up or if the initial market sees a solid pullback, it could reach 54,655. However, some rejection could also occur. This is our first scenario.
Alternate View:
If the initial market breaks or consolidates around the 50% Fibonacci level, we can expect a correction down to the 78% level or the swing low. On the other hand, if it doesn't break, the market will likely turn into a range between the previous high and the 50% Fibonacci level.
Bank Nifty is also following the Nifty sentiment. If the market opens with a gap-up or if the initial market sees a solid pullback, it could reach 54,655. However, some rejection could also occur. This is our first scenario.
Alternate View:
If the initial market breaks or consolidates around the 50% Fibonacci level, we can expect a correction down to the 78% level or the swing low. On the other hand, if it doesn't break, the market will likely turn into a range between the previous high and the 50% Fibonacci level.
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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.
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.