#Banknifty directions and levels for December 24th.
Current View:
The current view suggests that if the initial market takes a pullback after some decline or if it opens with a gap-up, then we can expect a continuation of the pullback. Structurally, the 38% retracement could be a major resistance in this variation. As per the wave structure, it is unlikely to go beyond this level. If you find any reversal confirmation, we can consider entering a short position. Conversely, if the pullback breaks the 38% level, it could extend to the next resistance level. This is the basic structure.
Alternate View:
The alternate view suggests that if the gap-down sustains, we can expect a correction to the previous bottom. Until the bottom is broken, the market sentiment could remain range-bound. If it breaks, we can consider that a 5th correctional wave.
The current view suggests that if the initial market takes a pullback after some decline or if it opens with a gap-up, then we can expect a continuation of the pullback. Structurally, the 38% retracement could be a major resistance in this variation. As per the wave structure, it is unlikely to go beyond this level. If you find any reversal confirmation, we can consider entering a short position. Conversely, if the pullback breaks the 38% level, it could extend to the next resistance level. This is the basic structure.
Alternate View:
The alternate view suggests that if the gap-down sustains, we can expect a correction to the previous bottom. Until the bottom is broken, the market sentiment could remain range-bound. If it breaks, we can consider that a 5th correctional wave.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.