#Nifty

12 Haz 2023

Good morning! As of June 12th, the global market indicates a positive start, with a bearish market sentiment. It might open with a gap-up. After that, if it sustains, we can expect pullback continuation with minor consolidation. Structurally, this pullback wave is the 2nd wave, so once it reaches Fibonacci levels of 50 to 61%, we can expect a correction. On the other hand, if the initial market declines sharply, we can expect a range-bound market or correction. It should break yesterday's low.