#Finnifty directions and levels for JAN 4th
"Finnifty might also open with a gap-up, supported by Giftnifty. If the initial market takes a pullback, there might be consolidation between the 38% level and 21243. In such a scenario, we could wait for a breakout. If it breaks the consolidation pattern, we can consider a breakout entry.
However, if the gap-up doesn't sustain and breaks the previous day's low, then we can expect a correction, potentially reaching the demand zone at 21194. Here, the Demand zone is expected to act as solid support. If it indeed acts as support and gets rejected, we might anticipate a minimum 38% pullback wave.
On the other hand, if the market breaks or consolidates around the demand zone, then the correction is likely to continue
However, if the gap-up doesn't sustain and breaks the previous day's low, then we can expect a correction, potentially reaching the demand zone at 21194. Here, the Demand zone is expected to act as solid support. If it indeed acts as support and gets rejected, we might anticipate a minimum 38% pullback wave.
On the other hand, if the market breaks or consolidates around the demand zone, then the correction is likely to continue