#Nifty directions and levels for February 5th:
Good Morning, Friends! 🌞
Here are the market directions and levels for February 5th:
There haven’t been any major changes in the global markets, which still show a bullish sentiment (as seen in the Dow Jones). Our local market is also showing a moderately bullish sentiment. Today, the market may open with a neutral to slight gap-up, as the GiftNifty indicates a positive sign of 70 points.
In the previous session, both Nifty and Bank Nifty had a solid rally, suggesting further continuation. However, some parameters have a neutral bias.
In my view, we can expect a rally only if it effectively breaks the 23,822 level. If it does, we can anticipate a solid rally. On the other hand, if it rejects around the supply zone or if the market declines initially, we can expect a retracement of 38% to 61% in the minor swing.
Here are the market directions and levels for February 5th:
There haven’t been any major changes in the global markets, which still show a bullish sentiment (as seen in the Dow Jones). Our local market is also showing a moderately bullish sentiment. Today, the market may open with a neutral to slight gap-up, as the GiftNifty indicates a positive sign of 70 points.
In the previous session, both Nifty and Bank Nifty had a solid rally, suggesting further continuation. However, some parameters have a neutral bias.
In my view, we can expect a rally only if it effectively breaks the 23,822 level. If it does, we can anticipate a solid rally. On the other hand, if it rejects around the supply zone or if the market declines initially, we can expect a retracement of 38% to 61% in the minor swing.
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.