#Nifty directions and levels for June 11th:

Good morning, Friends! 🌞

Here are the market directions and levels for June 11th:

Market Overview
There have been no major changes in both the global and local markets. They are still showing a moderately bullish sentiment. Meanwhile, Gift Nifty indicates a neutral to slightly gap-up start of around 30 points.

So, what can we expect today?

As per the structure, Nifty continues to hold a bullish bias, but Bank Nifty is showing a slightly negative bias. One more important point to note: today is a full moon day according to the calendar. As per Astro theory, full moon days (including one day before and after) are typically known for increased volatility.

My expectation is that we are currently in a minor range, so we can expect a directional move once the market breaks this range.

Let’s look at the charts.

Current View
If the market starts with a gap-up and sustains, we can expect consolidation near the previous high. If it then breaks above the previous high, we may see continuation of the rally.

Alternate View
If the gap-up does not sustain and the market breaks below the pullback zone effectively, we can expect the correction to continue. On the other hand, if the market finds support around the minor pullback zone, it may continue to trade in a range-bound structure.