#Banknifty directions and levels for March 7th.

7 Mar

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."