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Market Directions and Levels for December 5:
There were no changes in the global or our local market. The Dow Jones indicates a moderately bullish sentiment, while our Indian market indicates a moderately bearish sentiment. However, today the GIFT Nifty indicates a neutral opening.
What to Expect Today?
Today we have a RBI monetary policy announcement. It’s a volatile day, and movement will depend on the event. In my charts, the higher time-frame structure is still showing a solid bullish bias. So if today’s market turns green, we can expect a minimum of the channel top (short-term target). On the other hand, if the market breaks the current swing bottom, we can expect 100% to 127% extension targets for a minor correction. If we call that structurally a flag pattern, AB=CD pattern, or a C wave, then the implications would align accordingly.
Market Directions and Levels for December 5:
There were no changes in the global or our local market. The Dow Jones indicates a moderately bullish sentiment, while our Indian market indicates a moderately bearish sentiment. However, today the GIFT Nifty indicates a neutral opening.
What to Expect Today?
Today we have a RBI monetary policy announcement. It’s a volatile day, and movement will depend on the event. In my charts, the higher time-frame structure is still showing a solid bullish bias. So if today’s market turns green, we can expect a minimum of the channel top (short-term target). On the other hand, if the market breaks the current swing bottom, we can expect 100% to 127% extension targets for a minor correction. If we call that structurally a flag pattern, AB=CD pattern, or a C wave, then the implications would align accordingly.
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Declinazione di responsabilitĂ
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.