#Banknifty directions and levels for December 20th.
Good morning, friends! 🌞
Here are the market directions and levels for December 20th.
Market Overview:
Both the global and local markets are maintaining a bearish sentiment. Today, the market may open with a slight gap-down start, as the Nifty is indicating a negative 80 points at 8:00 AM.
In the previous session, both Nifty and Bank Nifty experienced a minor pullback after the long gap-down. Although the structure remains bearish, we can expect a continuation only if it breaks the previous day's low with solid movement. If this happens, we can anticipate a target of 78% in the minor swing.
On the other hand, if the market initially pulls back without breaking yesterday's low, or if it finds support at the immediate support level with gradual movements, then we can expect a pullback of 23% to 38%. This is the basic structure. Otherwise, we can follow the same sentiment that we discussed in the previous session, as nothing has changed.
Here are the market directions and levels for December 20th.
Market Overview:
Both the global and local markets are maintaining a bearish sentiment. Today, the market may open with a slight gap-down start, as the Nifty is indicating a negative 80 points at 8:00 AM.
In the previous session, both Nifty and Bank Nifty experienced a minor pullback after the long gap-down. Although the structure remains bearish, we can expect a continuation only if it breaks the previous day's low with solid movement. If this happens, we can anticipate a target of 78% in the minor swing.
On the other hand, if the market initially pulls back without breaking yesterday's low, or if it finds support at the immediate support level with gradual movements, then we can expect a pullback of 23% to 38%. This is the basic structure. Otherwise, we can follow the same sentiment that we discussed in the previous session, as nothing has changed.
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