#Banknifty directions and levels for August 26th.
Bank Nifty
> In the previous session, Bank Nifty also closed with a consolidation structure.
> SO, If the gap-up sustains and breaks the consolidation, it could reach a minimum of 51,214 or the 61% Fibonacci level.
> The structure is also important here; if it breaks the consolidation with a solid candle, the rally will likely continue with some consolidation. On the other hand, if it moves gradually, it may not have a long rally.
> An alternative scenario is similar to Nifty: if the gap-up doesn't sustain or if the market declines initially, then the 38% Fibonacci level will act as support. In this case, after the decline, if it finds support at the 38% level, the bullish bias is likely to continue. However, if it breaks the 38% level, it may fall further to the 50% level or swing low on the downside.
> In the previous session, Bank Nifty also closed with a consolidation structure.
> SO, If the gap-up sustains and breaks the consolidation, it could reach a minimum of 51,214 or the 61% Fibonacci level.
> The structure is also important here; if it breaks the consolidation with a solid candle, the rally will likely continue with some consolidation. On the other hand, if it moves gradually, it may not have a long rally.
> An alternative scenario is similar to Nifty: if the gap-up doesn't sustain or if the market declines initially, then the 38% Fibonacci level will act as support. In this case, after the decline, if it finds support at the 38% level, the bullish bias is likely to continue. However, if it breaks the 38% level, it may fall further to the 50% level or swing low on the downside.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.