#BankNifty Directions and levels for the 2nd Week of September
#Bank Nifty
Current View
If the week starts negatively, we can expect a correctional target of at least 49894 to 49697 on the downside. In the meantime, consolidation may occur around the 50262 level (78%).
In this case, the levels of 49894 (MDZ) and 49697 will act as key support zones. After the market reaches these levels, we could see a bounce of 23% to 28% in the current swing. This is our first scenario.
Alternate Scenario
If the correction finds rejection around the immediate support and breaks the 38% Fibonacci level in the minor swing, it could become a range-bound market, targeting between 50% and 78% in the minor swing.
Current View
If the week starts negatively, we can expect a correctional target of at least 49894 to 49697 on the downside. In the meantime, consolidation may occur around the 50262 level (78%).
In this case, the levels of 49894 (MDZ) and 49697 will act as key support zones. After the market reaches these levels, we could see a bounce of 23% to 28% in the current swing. This is our first scenario.
Alternate Scenario
If the correction finds rejection around the immediate support and breaks the 38% Fibonacci level in the minor swing, it could become a range-bound market, targeting between 50% and 78% in the minor swing.
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.