#Banknifty directions and levels for June25th.
Good morning, friends! 🌺🍬 Here are the directions for June 25th:
There is no significant difference. The global market is showing a moderately bullish sentiment, based on the Dow Jones. Our local markets are also maintaining this moderately bullish sentiment. However, today, the market may open with a neutral to slightly gap-up start, as indicated by GiftNifty, which shows an increase of 35 points (as of 8:00 AM).
Nifty and BankNifty are still maintaining the range-bound structure, so structurally, today might continue in this manner. If we search for a range breakout, we can see a flag pattern (chart pattern) in both Nifty and BankNifty. This means yesterday's pullback has the flag pattern structure. But what is the probability here? I will explain it in detail.
1. The first thing is it's a range-bound market.
2. The second thing is there is a flag pattern formed within the range.
3. If we look at the nature of the flag pattern, it is a trend continuation pattern in a trending market.
4. But what's here? This is a range market, so the pattern's success probability is less.
5. So, if the market takes a bullish bias initially, we can expect 78% of the pole length in the flag pattern. After that, if it consolidates, then the rally will likely continue.
Alternatively, if the gap-up doesn't sustain, then the range market will likely continue. Trading in a range market is a bit difficult. However, we could enter only if it breaks the downside 38% Fibonacci level.
There is no significant difference. The global market is showing a moderately bullish sentiment, based on the Dow Jones. Our local markets are also maintaining this moderately bullish sentiment. However, today, the market may open with a neutral to slightly gap-up start, as indicated by GiftNifty, which shows an increase of 35 points (as of 8:00 AM).
Nifty and BankNifty are still maintaining the range-bound structure, so structurally, today might continue in this manner. If we search for a range breakout, we can see a flag pattern (chart pattern) in both Nifty and BankNifty. This means yesterday's pullback has the flag pattern structure. But what is the probability here? I will explain it in detail.
1. The first thing is it's a range-bound market.
2. The second thing is there is a flag pattern formed within the range.
3. If we look at the nature of the flag pattern, it is a trend continuation pattern in a trending market.
4. But what's here? This is a range market, so the pattern's success probability is less.
5. So, if the market takes a bullish bias initially, we can expect 78% of the pole length in the flag pattern. After that, if it consolidates, then the rally will likely continue.
Alternatively, if the gap-up doesn't sustain, then the range market will likely continue. Trading in a range market is a bit difficult. However, we could enter only if it breaks the downside 38% Fibonacci level.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.