"Good morning, friends! Here are the directions for April 26th:
There have been no significant changes in the global market trend. It remains moderately bearish, supported by the Dow Jones, while our local market sentiment indicates a moderately bullish trend.
Nifty showed a solid pullback structure in the last session, so structurally, there will be no big correction, even if it rejects around the supply zone. If it does reject there, we can expect a maximum correction of 23 to 38% in the minor swing. If it finds support at 38%, then it may reach the previous high again. Simply put, if this happens, it's a range market.
Reversal will only occur if it breaks the previous day's minor swing high.
An alternate variation mirrors the previous sentiment. If the gap-up doesn't sustain, then initially, we can expect only a minor correction. After that, if it finds support at 38 or 50%, then it will reach the previous high again. On the other hand, if it breaks the 50% fib level, it may turn into a correction, but the probability is very low.
There have been no significant changes in the global market trend. It remains moderately bearish, supported by the Dow Jones, while our local market sentiment indicates a moderately bullish trend.
Nifty showed a solid pullback structure in the last session, so structurally, there will be no big correction, even if it rejects around the supply zone. If it does reject there, we can expect a maximum correction of 23 to 38% in the minor swing. If it finds support at 38%, then it may reach the previous high again. Simply put, if this happens, it's a range market.
Reversal will only occur if it breaks the previous day's minor swing high.
An alternate variation mirrors the previous sentiment. If the gap-up doesn't sustain, then initially, we can expect only a minor correction. After that, if it finds support at 38 or 50%, then it will reach the previous high again. On the other hand, if it breaks the 50% fib level, it may turn into a correction, but the probability is very low.