#Banknifty directions and levels for May 29th.
The current variation indicates that if the market breaks the 38% Fibonacci level, we can expect the correction to continue, potentially reaching the next Fibonacci level of 50%. If it finds support there, the 4th sub-wave may complete and start the 5th pullback wave.
Alternatively, if the market finds support around the immediate support or if the initial market takes a solid pullback, we can expect a range market to rally continuation.
Alternatively, if the market finds support around the immediate support or if the initial market takes a solid pullback, we can expect a range market to rally continuation.