#Nifty directions and levels for September 24th.
Good morning, friends! 🌞 Here are the market directions and levels for September 24th.
Market Overview:
There have been no significant changes in the global and local markets; both have maintained a bullish bias. Today, the market is expected to open with a neutral to slightly positive gap, with SGX Nifty suggesting a positive move of around +40 points as of 8 AM.
In the previous session, both Nifty and Bank Nifty closed positively, but there was no significant movement. Today, we expect to continue this trend, as there are no major trigger points for the next movement. However, we can check the charts for further insights.
Sentiments are similar for Nifty and Bank Nifty charts, and we will follow the sentiment shared in the previous session.
Current View:
Structurally, a diagonal pattern is progressing. If the market rejects around the immediate resistance, or if the market initially declines, we can expect a minimum correction of 23% to 38%. If it breaks below 38%, the trend could shift into a correction phase. Conversely, if it does not break 38%, the diagonal pattern could extend further. This is our first variation.
Alternate Variation:
The alternate variation suggests that if the market consolidates around the immediate resistance, it will be a sign of bullish continuation. We can expect to see the next resistance level if it breaks through the current resistance.
Market Overview:
There have been no significant changes in the global and local markets; both have maintained a bullish bias. Today, the market is expected to open with a neutral to slightly positive gap, with SGX Nifty suggesting a positive move of around +40 points as of 8 AM.
In the previous session, both Nifty and Bank Nifty closed positively, but there was no significant movement. Today, we expect to continue this trend, as there are no major trigger points for the next movement. However, we can check the charts for further insights.
Sentiments are similar for Nifty and Bank Nifty charts, and we will follow the sentiment shared in the previous session.
Current View:
Structurally, a diagonal pattern is progressing. If the market rejects around the immediate resistance, or if the market initially declines, we can expect a minimum correction of 23% to 38%. If it breaks below 38%, the trend could shift into a correction phase. Conversely, if it does not break 38%, the diagonal pattern could extend further. This is our first variation.
Alternate Variation:
The alternate variation suggests that if the market consolidates around the immediate resistance, it will be a sign of bullish continuation. We can expect to see the next resistance level if it breaks through the current resistance.
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