#Nifty directions and levels for March 20th.
"Good morning, friends! Here are the directions for March 20th: there is no significant difference in the last session. The Dow Jones has maintained a neutral sentiment, while our local market sentiment is also neutral. It might open with a neutral to slightly gap-up start, as suggested by Giftnifty, showing a +60 point.
Nifty is maintaining a moderately bearish sentiment. However, Giftnifty indicates a gap-up start; structurally, it couldn't sustain. If it doesn't sustain, then we can expect further correction, reaching the demand zone level. It's a minor support here, so if the market consolidates or breaks the zone, then the correction will likely continue. On the other hand, if it experiences a sharp pullback, then we can expect a minimum of 23% to 38% pullback (using Fibonacci swing high to low 22123 to the upcoming low).
Alternatively, if the gap-up sustains, then it may range within the market structure between yesterday's low and the Fibonacci level 38%. We can take a breakout trade once the range breaks, whether it's to the upside or downside, or if it breaks 38% instantly, the pullback will continue with minor consolidations.
Nifty is maintaining a moderately bearish sentiment. However, Giftnifty indicates a gap-up start; structurally, it couldn't sustain. If it doesn't sustain, then we can expect further correction, reaching the demand zone level. It's a minor support here, so if the market consolidates or breaks the zone, then the correction will likely continue. On the other hand, if it experiences a sharp pullback, then we can expect a minimum of 23% to 38% pullback (using Fibonacci swing high to low 22123 to the upcoming low).
Alternatively, if the gap-up sustains, then it may range within the market structure between yesterday's low and the Fibonacci level 38%. We can take a breakout trade once the range breaks, whether it's to the upside or downside, or if it breaks 38% instantly, the pullback will continue with minor consolidations.
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