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Market Directions and Levels for December 23
The global markets are showing a bullish sentiment (based on the Dow Jones), and the Indian market also indicates a bullish outlook. Today, the market may open on a positive note due to GIFT Nifty showing about 50 points up.
What to Expect Today?
The global market structure has a solid bullish bias, and the Indian market also formed a solid candle in the previous session. Sentimentally, it suggests a positive day today as well. In my opinion, the Nifty could move in line with yesterday’s pattern. On the other hand, Bank Nifty is displaying a solid bullish structure, which means that if it breaks the 78% resistance, we can expect a long rally. Let’s look at the charts.
Nifty
Current view:
> If the market opens with a gap-up, it could reach 26,269—a resistance zone. Structurally, it could undergo a minor retracement of 23% to 38% in the current swing. However, if it breaks through without rejection(26269), follow the rally
> Note: if the gap-up does not sustain and declines, we can apply the same sentiment until it breaks the 38% retracement level. If it breaks, we can expect the correctional targets at 50% and 78% in the current swing.
Market Directions and Levels for December 23
The global markets are showing a bullish sentiment (based on the Dow Jones), and the Indian market also indicates a bullish outlook. Today, the market may open on a positive note due to GIFT Nifty showing about 50 points up.
What to Expect Today?
The global market structure has a solid bullish bias, and the Indian market also formed a solid candle in the previous session. Sentimentally, it suggests a positive day today as well. In my opinion, the Nifty could move in line with yesterday’s pattern. On the other hand, Bank Nifty is displaying a solid bullish structure, which means that if it breaks the 78% resistance, we can expect a long rally. Let’s look at the charts.
Nifty
Current view:
> If the market opens with a gap-up, it could reach 26,269—a resistance zone. Structurally, it could undergo a minor retracement of 23% to 38% in the current swing. However, if it breaks through without rejection(26269), follow the rally
> Note: if the gap-up does not sustain and declines, we can apply the same sentiment until it breaks the 38% retracement level. If it breaks, we can expect the correctional targets at 50% and 78% in the current swing.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.