Finnifty

23 Jun 2023

"Good morning! As of June 23rd, there is no significant difference compared to the last session. The global market is showing a neutral to slightly negative start with moderately bullish market sentiment. There is a possibility of a slight gap-down opening. If the market experiences a pullback afterward, we can expect a minor pullback reaching anywhere between 38% to 61%. If the market turns around at 61% or 78%, we can anticipate a correction. Alternatively, if the initial market decline is sharp, the correction will likely continue. For pullback confirmation, consider using EMA20 and the 38% Fibonacci level, as both will indicate a conservative reversal."