#Banknifty directions and levels for July 24th.
Bank Nifty:
Bank Nifty also has a range-bound structure, so the next movement is expected only if it breaks out of the range. Until then, it may continue within the current range.
Due to the market closing within the range, precise levels are difficult to determine. However, if it breaks 52,502, it may continue the correction to a minimum of 51,325 to 51,186.
Alternatively, if the gap-down doesn’t sustain and finds support around 51,502, then structurally it may continue within the range, with an expected upside to a minimum of 52,086 and up to the 61% Fibonacci level.
Note:
If the market opens with a gap-up and breaks the minor swing high, the rally will continue. The upside levels remain the same
Bank Nifty also has a range-bound structure, so the next movement is expected only if it breaks out of the range. Until then, it may continue within the current range.
Due to the market closing within the range, precise levels are difficult to determine. However, if it breaks 52,502, it may continue the correction to a minimum of 51,325 to 51,186.
Alternatively, if the gap-down doesn’t sustain and finds support around 51,502, then structurally it may continue within the range, with an expected upside to a minimum of 52,086 and up to the 61% Fibonacci level.
Note:
If the market opens with a gap-up and breaks the minor swing high, the rally will continue. The upside levels remain the same
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