#Banknifty directions and levels for June11th.
Good morning, friends! 🌺🍬 Here are the directions for June 11th:
There are no significant changes in the global market. It is still maintaining a moderately bullish sentiment based on the Dow Jones, while our local market also maintains a bullish trend. Today, the market may open with a neutral start, as indicated by GiftNifty, which shows an increase of 30 points.
Nifty and BankNifty both have the same sentiment; both consolidated in the previous session. So, as usual, structurally it’s a bullish trend, but we should wait for the range breakout. If it breaks, we can expect the rally to continue. If you want precise directions, here is a step-by-step guide:
> In the short term, the market is moving within a minor range. If the market opens neutrally, we can initially expect range continuation. That means if the market takes a pullback initially or if it takes support around the immediate support level, the market may bounce back a minimum of 78% in the minor swing.
> The rally will continue only if it breaks the previous high.
> The correction may be expected only if the market takes a sharp decline initially. If the decline sustains, we can expect the correction to continue with minor consolidations around 49,268 for BankNifty.
There are no significant changes in the global market. It is still maintaining a moderately bullish sentiment based on the Dow Jones, while our local market also maintains a bullish trend. Today, the market may open with a neutral start, as indicated by GiftNifty, which shows an increase of 30 points.
Nifty and BankNifty both have the same sentiment; both consolidated in the previous session. So, as usual, structurally it’s a bullish trend, but we should wait for the range breakout. If it breaks, we can expect the rally to continue. If you want precise directions, here is a step-by-step guide:
> In the short term, the market is moving within a minor range. If the market opens neutrally, we can initially expect range continuation. That means if the market takes a pullback initially or if it takes support around the immediate support level, the market may bounce back a minimum of 78% in the minor swing.
> The rally will continue only if it breaks the previous high.
> The correction may be expected only if the market takes a sharp decline initially. If the decline sustains, we can expect the correction to continue with minor consolidations around 49,268 for BankNifty.
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