#Nifty directions and levels for June 12th:

Good morning, Friends! 🌞

Here are the market directions and levels for June 12th:

Market Overview
Today as well, there have been no major changes in either the global or local markets. Both are showing a moderately bullish sentiment. Meanwhile, Gift Nifty indicates a neutral to slightly gap-up start of around 30 points.

So, what can we expect today?
There’s still no change in the market structure—Nifty is showing a moderately bullish bias, while Bank Nifty is showing a bearish bias. This makes the direction a bit difficult to predict.

However, my expectation is: even if the market opens positively, it may not sustain. Initially, we can expect a minor correction. If it breaks the support, then the correction may continue. On the other hand, if it pulls back from support, then it may re-enter a range-bound market.

Let’s look at the charts.

Current View
The current view suggests that if the market reaches the immediate support level with a gradual movement, we can expect a bounce back, which would mean it may continue to hold a moderately bullish sentiment.

However, if it declines sharply and consolidates or breaks the immediate support level decisively, then it could enter a correction phase.

Alternate View
The alternate view says: if the gap-up sustains structurally, we can expect only a minor rally. However, if a solid bullish candle forms, we may consider entering a directional trade.