#Banknifty Directions and levels for May 30th.

30 May

BankNifty also has the same sentiment. If the market finds support around the immediate support level, then we can expect a minor pullback that will take a max of 23 to 38%. After that, if it gets rejected there, then the correction will likely continue. On the other hand, if the pullback breaks the 38% Fibonacci level, it could turn into a range market between the upcoming low to the 61% Fibonacci level.

Alternatively, if the gap-down sustains and breaks the immediate support with some consolidation or immediately, then the correction will likely continue.