#Nifty directions and levels for January 14th, Tuesday:

evvelsi gün

Good Morning, friends! 🌞

Here are the market directions and levels for January 14th, Tuesday:

Market Overview:

The global market is showing bearish sentiment (based on the Dow Jones), and our local market is reflecting a similar outlook. Today, the market is likely to open with a gap-up start, as the Gift Nifty indicates a +130 point positive opening.

> In the previous session, the market moved violently, but the evening session in the US market saw a solid pullback. Structurally, this happened in a bearish market, so it still seems to be in a bearish trend. However, this pullback may reduce the momentum. So, my opinion is:

> If the gap-up sustains, we can expect a 50% to 61% pullback in the minor swing.
On the other hand, if it doesn’t sustain, then it could consolidate between the previous low and today’s opening price.
This is the basic structure. Let’s look at the chart.

Both Nifty and Bank Nifty have the same structural sentiment.

Current View:

The current view, based on the structure, is that as per the long correction, this kind of gap-up might not sustain.

> If the initial market declines, it could consolidate between the previous low and today’s opening price, or to the 38% resistance level.

> After that, if it breaks the previous low, then the correction will likely continue.

Alternate View:

The alternate view says:
> If the gap-up sustains or if it breaks the major resistance at 38% with a solid candle, then it could reach a minimum of 50% to 61% in the minor swing.