Banknifty

20 Des 2022

The global market indicates a slightly negative start. After the minor gap-down, if the market breaks the previous day's high, then we will expect pullback continuation. It will reach a minimum of 50 to 61% fib level. And also that's a (C) leg, so if the market rejects sharply, then we expect a correctional wave. Or if the market takes consolidation, then it will go further. On the other hand, after the gap-down market breaks the 38% zone, then we will expect range bound market to correction.