#nifty directions and levels for October 14th.
Good morning, friends! 🌞 Here are the market directions and levels for October 14th.
Market Overview:
There have been no significant changes in the global or local markets. The global market is showing a bullish sentiment, while our local market has a moderately bearish trend. We anticipate a neutral to slightly gap-up opening today, with SGX Nifty indicating a positive +10 points as of 8 AM.
In the previous session, Nifty closed with consolidation, while Bank Nifty experienced a minor correction. However, structurally, both are in a range-bound phase. Trading in a range market can be difficult as we may not see clear movement, direction, or option premium. However, if you’re looking to trade, we can consider a breakout entry, which I'll explain in the charts.
Nifty:
> If the market breaks either above 25,040 or below 24,897, we can enter a breakout trade. Target levels are 25,167 on the upside and 24,810 on the downside.
> It is important to note that after a breakout, if the market experiences gradual movements or rejects the immediate support or resistance level, it is likely to close at the same level as it opened today.
> On the other hand, if the market consolidates around the immediate support or resistance level after the breakout, the direction is likely to continue.
Market Overview:
There have been no significant changes in the global or local markets. The global market is showing a bullish sentiment, while our local market has a moderately bearish trend. We anticipate a neutral to slightly gap-up opening today, with SGX Nifty indicating a positive +10 points as of 8 AM.
In the previous session, Nifty closed with consolidation, while Bank Nifty experienced a minor correction. However, structurally, both are in a range-bound phase. Trading in a range market can be difficult as we may not see clear movement, direction, or option premium. However, if you’re looking to trade, we can consider a breakout entry, which I'll explain in the charts.
Nifty:
> If the market breaks either above 25,040 or below 24,897, we can enter a breakout trade. Target levels are 25,167 on the upside and 24,810 on the downside.
> It is important to note that after a breakout, if the market experiences gradual movements or rejects the immediate support or resistance level, it is likely to close at the same level as it opened today.
> On the other hand, if the market consolidates around the immediate support or resistance level after the breakout, the direction is likely to continue.
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.