#Banknifty August 1st week directions and levels.
Bank Nifty
Bank Nifty's structure is a bit different from Nifty. It hasn’t pulled back as much, but the trend is still positive. Bank Nifty is currently in the 5th wave, indicating a bullish move. However, since the 5th wave is usually slower, we expect a less aggressive rally, possibly at a 40 to 50-degree angle. We’re targeting 52,674 for this rally. This is our main view.
Alternatively, if the market faces resistance at the 50 or 61% levels, it may correct further. Initially, the market might move within a range, and a break of this range could lead to more correction.
Bank Nifty's structure is a bit different from Nifty. It hasn’t pulled back as much, but the trend is still positive. Bank Nifty is currently in the 5th wave, indicating a bullish move. However, since the 5th wave is usually slower, we expect a less aggressive rally, possibly at a 40 to 50-degree angle. We’re targeting 52,674 for this rally. This is our main view.
Alternatively, if the market faces resistance at the 50 or 61% levels, it may correct further. Initially, the market might move within a range, and a break of this range could lead to more correction.
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.