Manickamtraders

Manickamtraders

BankNifty also has the same sentiment. The market may open with a gap-up, and if it rejects around 47,986 or the Fibonacci level of 38%, then it could retrace a minimum of 38% to 61%. On the other hand, if the pullback sustains or breaks the Fibonacci level of 38%, then the rally will likely continue.

Manickamtraders

Good morning, friends! 🌺🍬 Here are the directions for May 13th: The global market still maintains a moderately bullish sentiment (based on the Dow Jones), while our local market sentiment also indicates a moderately bullish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +50. Nifty had a sharp...

Manickamtraders

>Banknifty also has the same consolidation structure, but wave counts are a little bit different from Nifty. So, if the initial market takes support around the immediate support level, then we can expect a minimum of a 23% pullback wave. If you want reversal confirmation, then you can use EMA 20 or a minor fib level 38% breakout. Alternatively, if the gap-down...

Manickamtraders

Good morning, friends! 🌺🍬 Here are the directions for May 13th: The global market still maintains a moderately bullish sentiment (based on the Dow Jones), while our local market sentiment indicates a bearish trend. It might open with a neutral to slightly gap-down start, as suggested by GiftNifty, showing a decrease of -20. >Nifty had consolidated after the...

Manickamtraders

Bank Nifty has the same sentiment. Even though if it opens with a gap-up, it won't sustain. So, if the market declines initially, then we can expect correction continuation with minor pullbacks, which may reach a minimum of 47129 to the demand zone. The alternate variation is the same as with Nifty. If the gap-up sustains, it may reject around 23%. After that, if...

Manickamtraders

Good morning, friends! 🌺🍬 Here are the directions for May 10th: The global market maintains a moderately bullish sentiment (based on the Dow Jones), while our local market sentiment indicates a bearish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +40. Nifty fell drastically yesterday too. The...

Manickamtraders

Good morning, friends🌺🍬! Here are the directions for May 9th: Still, the global market maintains a moderately bullish sentiment, while our local market sentiment indicates a moderately bearish trend. It might open with a neutral to slightly gap-down start, as suggested by GiftNifty, showing a decrease of -15. Nifty had a solid pullback after the minor correction...

Manickamtraders

BankNifty is structurally a little different from Nifty. If the market takes a pullback initially, we can expect a minimum of 38% on the upside. After that, if it rejects there (around 38%), it may undergo consolidation between the previous low to 38% for correction. on the other hand, if the pullback breaks the Fibonacci level 38% (upside), then it may continue...

Manickamtraders

Banknifty also has a similar sentiment. If the initial market decline occurs, then we can expect a correction to a minimum of 48128 or 47992 levels. After that, if it finds support there, then we can expect a pullback that may retrace a minimum of 38 to 50%. However, if it doesn't find support or consolidates there, then the correction will likely continue, and...

Manickamtraders

"Good morning, friends🤝🍬! Here are the directions for May 8th: There have been no changes in the global market; it's maintaining a moderate bullish sentiment, while our local market sentiment indicates a bearish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +20. Nifty fell solidly in the previous...

Manickamtraders

Both Nifty and Bank Nifty have the same consolidation structure. If the market initially takes a pullback, then we can expect a minimum of 61% pullback. After that, if it rejects sharply, then it might correct again, meaning it may return to its morning opening level. However, if it sustains around 61%, then the rally will likely continue with minor...

Manickamtraders

"Good morning, friends! Here are the directions for May 7th: The global market has moderate bullish sentiment, while our local market sentiment also indicates a moderately bearish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +12. Both Nifty and Bank Nifty have the same consolidation structure. If...

Manickamtraders

BankNifty differs slightly from Nifty. It has already finished the three-wave structure, so if the gap-up sustains, we can expect rally continuation with minor correction that should break the minor fib level of 38%. Alternatively, if the gap-up doesn't sustain and breaks the previous day's low, then it might turn into a diagonal pattern."

Manickamtraders

"Good morning, friends! Here are the directions for May 6th: There have been no changes in the global market; it's maintaining its range, while our local market sentiment also indicates a moderately bearish trend. It might open with a gap-up start, as suggested by GiftNifty, showing an increase of +100. Nifty fell drastically in the previous session, so the...

Manickamtraders

BankNifty differs from Nifty. It didn't have as much of a pullback yesterday. So, if the market opens with a gap-up, then we can expect the fib level 78% with minor consolidation. Alternatively, if the gap-up doesn't sustain, then we can expect an initial range market between the opening price and the fib level 50%. After that, if it breaks that range either...

Manickamtraders

"Good morning, friends! Here are the directions for May 3rd: The global market is still maintaining the range, while our local market sentiment also indicates a moderately bearish trend. It might open with a gap-up start, as suggested by GiftNifty, showing an increase of +80. Nifty has been moving in a diagonal pattern. So, if the gap-up sustains, we could...

Manickamtraders

Good morning, friends! Here are the directions for May 2nd: The global market is still maintaining a moderately bearish trend, supported by the Dow Jones, while our local market sentiment also indicates a moderately bearish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +30. Nifty and BankNifty...

Manickamtraders

Good morning, friends! Here are the directions for May 2nd: The global market is still maintaining a moderately bearish trend, supported by the Dow Jones, while our local market sentiment also indicates a moderately bearish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +30. structurally there is...