#Nifty directions and levels for September 12th.

6 days agoGood morning, friends! 🌞 Here are the market directions and levels for September 12th.

Market Overview:

Global markets are still maintaining a moderately bearish trend, as indicated by the Dow Jones, and our local market reflects a similar sentiment. However, today, the market may open with a gap-up, as SGX Nifty is indicating a positive move of around +90 points at 8 AM.

In the previous session, both Nifty and Bank Nifty had a huge up and down. Structurally, it’s maintaining the range market. What about today? Even though the market closed negative yesterday, SGX Nifty is indicating a positive start today. Simply, it says that the range will continue. Let’s look at the chart. Today, Nifty and Bank Nifty both have the same sentiment.

Nifty:

Current view:

The current view is saying that the market is range-bound, but if the market breaks the level of 25078 solidly or with some consolidation, it will continue to the Fibonacci level of 78% to 25216. This is our first variation.

Alternate view:

On the other hand, if the gap-up doesn’t sustain or if the market rejects the level at 25078, then it will continue the range further between the previous day’s range. This is our alternate view.