#Banknifty directions and levels for April 2nd.

2 Apr

Banknifty has also consolidated in the last session. If the market opens with a gap-down, then we can expect minor correction initially. After that, if it finds support around 23 or 38%, then we can expect consolidation for a rally continuation. On the other hand, if it breaks the fib level of 38%, then it may turn into a correction phase that will reach a minimum of 50 to 78%. Alternatively, if the gap-down doesn't sustain, then it could take a little bit of consolidation initially. After that, if it breaks the fib level of 78%, then we can expect further rally continuation.