Manickamtraders

Manickamtraders

Good morning, friends! 🌞 Here are the directions and levels for September 5th. Market Overview The global markets are maintaining bearish pressure, as indicated by the Dow Jones. Our local market has been showing a moderately bullish sentiment. However, based on a 90-point positive signal from GiftNifty, we may see the market open with a gap-up today. Both...

Manickamtraders

Good morning, friends! 🌞 Here are the directions and levels for September 4th. Market Overview The global market experienced a significant decline in the previous session, structurally indicating a bearish sentiment (based on the Dow Jones). Our local market has been maintaining a moderately bullish sentiment. However, today the market may open with a...

Manickamtraders

Bank Nifty Current View: The sentiment is similar to Nifty; however, for Bank Nifty, it’s uncertain where it will open exactly, so I’m making an assumption. If the market opens with a long gap-down, it may find support around the 61% to 78% Fibonacci level. If this happens, we can expect a 23% to 38% minor bounce back. This bounce back could be part of a sub-wave...

Manickamtraders

Good morning, friends! 🌞 Here are the directions and levels for September 3rd. Market Overview The global and local markets are still maintaining their consolidation phase with a bullish outlook, supported by the Dow Jones. Today, the market may open with a neutral to slightly gap-down start, as the SGX Nifty indicates a negative 10-point move as of 8:00...

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Bank Nifty Current View: There is not much difference compared to Nifty sentiment. If the market opens with a gap-up or if it finds support around the 38% Fibonacci level or the demand zone on the downside, the range-bound market is likely to continue. Alternate View: If the correction takes a sharp decline and consolidates or breaks the demand zone, it could...

Manickamtraders

Bank Nifty: Structurally, Bank Nifty differs from Nifty. However, if this week starts positively, we can expect it to reach at least the 78% Fibonacci level on the upside. in this case, > If the market takes time to reach that level, it may undergo a correction of 23% to 38% in the minor swing. This means if it reaches the 78% level gradually, it may lead to a...

Manickamtraders

Nifty and Bank Nifty Directions for the First Week of September Global Market Overview The global market hasn't changed much and continues to trade within a range, so the overall sentiment remains positive. However, there are a few events this week that need to be monitored closely. Our Market: In the previous week, both Nifty and Bank Nifty closed with...

Manickamtraders

Good morning, friends! 🌞 Here are the directions and levels for August 30th. Market Overview The global and local markets are still maintaining their current sentiments. Globally, the market is in a consolidation phase with a bullish outlook, supported by the Dow Jones. Locally, the market shows a moderately bullish sentiment. Today, the market may open with a...

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Banknifty Current View: There is currently a range-bound market. Structurally, the market will take its next direction when it breaks either to the upside or downside. > In this scenario, if the market breaks to the upside solidly or with potential volume, the rally will likely continue with some minor consolidation around the level of 51,519 to 51,563. On...

Manickamtraders

Good morning, friends! 🌞 Here are the directions and levels for August 29th. Market Overview The global market is moving in a consolidation structure, and it has a bullish sentiment based on the Dow Jones. Meanwhile, our local market is showing a moderately bullish sentiment. However, today, the market may open with a neutral to slightly gap-down start, as the...

Manickamtraders

Bank Nifty Current View: The Bank Nifty chart is saying that if the market opens with a gap-down, then it may continue the correction, reaching a minimum of 61% with some minor consolidation. After that, if it finds support there, we can expect a maximum bounce of 23% to 38%. Structurally, it won’t sustain. Once it rejects there, then the correction will likely...

Manickamtraders

Good morning, friends! 🌞 Here are the directions and levels for August 28th. Market Overview The global market is showing a bullish sentiment, as reflected by the Dow Jones. Meanwhile, our local market is displaying a moderately bullish sentiment. However, today's market may open with a neutral to slightly gap-down start, as the SGX Nifty indicates a negative...

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Currently, Banknifty are moving in a diagonal pattern, which is a time adjustment pattern. This means the market may not rise significantly even if it breaks the previous high. However, it's important to note that if the market breaks this pattern on the downside, a minor correction could occur. Therefore, we should watch the market carefully. Now, let's look at...

Manickamtraders

Good morning, friends! 🌞 Here are the directions and levels for August 27th. Market Overview The global market has a bullish sentiment based on the Dow Jones. Meanwhile, our local market also exhibits bullish sentiment. However, today, the market may open with a gap-down start, as the SGX Nifty indicates a negative 40-point move as of 8:00 AM. In the previous...

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In the previous session, Bank Nifty experienced a range breakout, which is structurally a positive sign. But today, the giftnifty indicates a negative start. So, what’s next? > Bank Nifty has minor consolidation structure followed by a breakout. Structurally, it should not take much of a correction. > Therefore, if the market opens negatively and finds...

Manickamtraders

Good morning, friends! 🌞 Here are the directions and levels for August 26th. Market Overview The global market has a bullish sentiment (based on the Dow Jones). Meanwhile, our local market is also maintaining a moderately bullish sentiment. Today, the market may open with a gap-up start, as the SGX Nifty indicates a positive 60-point move as of 8:00 AM. Both...

Manickamtraders

Bank Nifty > In the previous session, Bank Nifty also closed with a consolidation structure. > SO, If the gap-up sustains and breaks the consolidation, it could reach a minimum of 51,214 or the 61% Fibonacci level. > The structure is also important here; if it breaks the consolidation with a solid candle, the rally will likely continue with some consolidation....

Manickamtraders

Bank Nifty Bank Nifty had a significant swing, but it looks like a range-bound market. My expectation for this week is a sharp and long rally. that's If the market sustains around the 61% Fibonacci level, then it could reach a minimum of 51,563 and potentially up to the 78% level. This is our primary scenario. Alternate Variation: The alternate scenario is...