#Nifty directions and levels for July 8th
Good morning, friends! 🌺🍬 Here are the directions for July 8th:
The global market has a moderately bullish sentiment on the Dow Jones. Our local markets are showing a moderately bullish sentiment as well. However, today, the market may open with a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 30 points (as of 8:00 AM).
Nifty had a solid pullback even though it opened with a gap-down. If you look at the structure, it is showing a range market, and GiftNifty also indicates that. So, the first scenario is if the market opens with a gap-down and sustains, we can expect a minimum of 24,266 to the demand zone. Structurally, it may consolidate over there, but by the end of the day, it might fall further.
Alternatively, if the initial market takes a pullback, then it may reach a minimum of the swing high at 24,431 and 24,464 with minor consolidations.
Here is one more thing, and this is my personal opinion: I think the market might take a range-bound structure until the budget, similar to how the market behaves before election results. This means one day it might take a bullish bias, then another one or two days it may go bearish, and then again it may take a bullish bias. Experts are expecting this pattern.
The global market has a moderately bullish sentiment on the Dow Jones. Our local markets are showing a moderately bullish sentiment as well. However, today, the market may open with a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 30 points (as of 8:00 AM).
Nifty had a solid pullback even though it opened with a gap-down. If you look at the structure, it is showing a range market, and GiftNifty also indicates that. So, the first scenario is if the market opens with a gap-down and sustains, we can expect a minimum of 24,266 to the demand zone. Structurally, it may consolidate over there, but by the end of the day, it might fall further.
Alternatively, if the initial market takes a pullback, then it may reach a minimum of the swing high at 24,431 and 24,464 with minor consolidations.
Here is one more thing, and this is my personal opinion: I think the market might take a range-bound structure until the budget, similar to how the market behaves before election results. This means one day it might take a bullish bias, then another one or two days it may go bearish, and then again it may take a bullish bias. Experts are expecting this pattern.
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.