#Nifty Directions and levels for May 28th.
Good morning, friends! 🌺🍬 Here are the directions for May 28th:
The global market is maintaining a bearish sentiment based on the Dow Jones, while our local market suggests a moderately bullish trend. We might see a neutral to slightly gap-down start today, as indicated by GiftNifty, which shows a decrease of 15 points.
In the previous session, Nifty had sharply rejected in the second half, closing at a neutral price. Today, GiftNifty is also indicating a neutral opening. If we take a bias based on the Dow Jones, HDFC Bank, and RIL, they are suggesting a neutral sentiment.
So, my expectation is that if Nifty opens neutral or if the initial market takes a pullback, we can expect a range market within the previous day's range. If it breaks either upside or downside after that, then we can follow that trend. In my opinion, if it forms a range, it may continue the rally.
Alternatively, if the market takes a correction initially, it could reach the Fibonacci level of 50%, which is a strong support. After that correction, if it finds support there, we can expect a minimum pullback of 38% to 50%.
Note: However, if the correction occurs sharply and if it breaks or consolidates around the Fibonacci level of 50%, then the correction will likely continue.
The global market is maintaining a bearish sentiment based on the Dow Jones, while our local market suggests a moderately bullish trend. We might see a neutral to slightly gap-down start today, as indicated by GiftNifty, which shows a decrease of 15 points.
In the previous session, Nifty had sharply rejected in the second half, closing at a neutral price. Today, GiftNifty is also indicating a neutral opening. If we take a bias based on the Dow Jones, HDFC Bank, and RIL, they are suggesting a neutral sentiment.
So, my expectation is that if Nifty opens neutral or if the initial market takes a pullback, we can expect a range market within the previous day's range. If it breaks either upside or downside after that, then we can follow that trend. In my opinion, if it forms a range, it may continue the rally.
Alternatively, if the market takes a correction initially, it could reach the Fibonacci level of 50%, which is a strong support. After that correction, if it finds support there, we can expect a minimum pullback of 38% to 50%.
Note: However, if the correction occurs sharply and if it breaks or consolidates around the Fibonacci level of 50%, then the correction will likely continue.
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.