#Banknifty directions and levels for September 12th.
Bank Nifty:
Bank Nifty also has a similar sentiment to Nifty. If the market opens with a gap-up, then the 51319 level will act as minor resistance. Once the market breaks this level with a solid candle or some consolidation, it will reach a minimum of 51492 to 51593.
> In this case, the supply zone will act as resistance only if approached gradually. Conversely, if the market reaches that level with a solid structure, it may require some consolidation there before continuing the rally.
Alternate view:
The alternate view is that if the gap-up doesn’t sustain or if the market rejects around the 51319 level, then it will continue the range further between the previous day’s range.
Bank Nifty also has a similar sentiment to Nifty. If the market opens with a gap-up, then the 51319 level will act as minor resistance. Once the market breaks this level with a solid candle or some consolidation, it will reach a minimum of 51492 to 51593.
> In this case, the supply zone will act as resistance only if approached gradually. Conversely, if the market reaches that level with a solid structure, it may require some consolidation there before continuing the rally.
Alternate view:
The alternate view is that if the gap-up doesn’t sustain or if the market rejects around the 51319 level, then it will continue the range further between the previous day’s range.
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