#Banknifty directions and levels for March 7th.
Banknifty has the same sentiment; there is a completed motive structure. So, if the initial market declines sharply, then we can expect a minimum of 23% to 38% Fibonacci correction. If it breaks the 38% Fibonacci level, that's a sign of a trend reversal (bearish trend). On the other hand, if it finds support there (23%), it might consolidate a little bit.
Alternatively, if the gap-up sustains and breaks the supply zone, here also the same extension might happen. So, if the market breaks the supply zone, we can expect a rally continuation in the upcoming sessions."
Alternatively, if the gap-up sustains and breaks the supply zone, here also the same extension might happen. So, if the market breaks the supply zone, we can expect a rally continuation in the upcoming sessions."
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