#Nifty directions and levels for July 11th.
Good morning, friends! 🌺🍬 Here are the directions for July 11th:
There are no significant changes in the global markets, which are still showing a moderately bullish trend. However, our local market is showing a moderately bearish trend. Today, the market may open with a neutral to slightly gap-up start, as indicated by GiftNifty, which shows an increase of 40 points (as of 8:00 AM).
Nifty and BankNifty structures differ from one another. Let's look at them one by one.
Nifty had a huge swing in the previous session. However, the structure is obviously a range market. Today, GiftNifty indicates a slightly positive start. If it rejects around the immediate resistance, then we can expect a correction, meaning the range market will likely continue. For this correction to happen, it should break the 38% fib level in the current swing. If it doesn't break the 38% fib level, it may go a little bit further up.
This sentiment also applies to the initial market decline.that means If the gap-up doesn't sustain or the initial market takes a decline, then use the same sentiment.
The alternate variation suggests that if the gap-up sustains and consolidates around the 78% fib level or breaks the 78% fib level with a solid candle, then the rally will likely continue.
There are no significant changes in the global markets, which are still showing a moderately bullish trend. However, our local market is showing a moderately bearish trend. Today, the market may open with a neutral to slightly gap-up start, as indicated by GiftNifty, which shows an increase of 40 points (as of 8:00 AM).
Nifty and BankNifty structures differ from one another. Let's look at them one by one.
Nifty had a huge swing in the previous session. However, the structure is obviously a range market. Today, GiftNifty indicates a slightly positive start. If it rejects around the immediate resistance, then we can expect a correction, meaning the range market will likely continue. For this correction to happen, it should break the 38% fib level in the current swing. If it doesn't break the 38% fib level, it may go a little bit further up.
This sentiment also applies to the initial market decline.that means If the gap-up doesn't sustain or the initial market takes a decline, then use the same sentiment.
The alternate variation suggests that if the gap-up sustains and consolidates around the 78% fib level or breaks the 78% fib level with a solid candle, then the rally will likely continue.
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