#Nifty directions and levels for November 12th.
Good morning, friends! 🌞 Here are the market directions and levels for November 12th.
Market Overview:
There are no significant changes that have happened. The global market is maintaining a bullish sentiment (based on Dow Jones only), while our local market is showing a moderately bearish sentiment. Today, the market may open with a neutral to slightly gap-up start, based on Nifty showing a positive 40 points.
In the previous session, both Nifty and Bank Nifty had a solid pullback, but it didn't sustain, which simply means we are in a range market. Today's structure also indicates a continuation of the range market. Let's take a look at this in the charts.
Nifty Current View:
The current view suggests that if the market sustains the gap-up, it could reach a minimum of 24,288. This is a major resistance. After that pullback, if it rejects there, then it will close where it started the session. However, if it sustains or breaks this level, then the pullback will continue toward the level of 24,367. This is our first variation.
Alternate View:
The alternate view suggests that if the market declines initially, it could reach a minimum of 78% to the MDZ. However, it should break 24,076, then only can we expect these levels.
Market Overview:
There are no significant changes that have happened. The global market is maintaining a bullish sentiment (based on Dow Jones only), while our local market is showing a moderately bearish sentiment. Today, the market may open with a neutral to slightly gap-up start, based on Nifty showing a positive 40 points.
In the previous session, both Nifty and Bank Nifty had a solid pullback, but it didn't sustain, which simply means we are in a range market. Today's structure also indicates a continuation of the range market. Let's take a look at this in the charts.
Nifty Current View:
The current view suggests that if the market sustains the gap-up, it could reach a minimum of 24,288. This is a major resistance. After that pullback, if it rejects there, then it will close where it started the session. However, if it sustains or breaks this level, then the pullback will continue toward the level of 24,367. This is our first variation.
Alternate View:
The alternate view suggests that if the market declines initially, it could reach a minimum of 78% to the MDZ. However, it should break 24,076, then only can we expect these levels.
Thông báo miễn trừ trách nhiệm
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