#Banknifty directions and levels for the August 27th.
In the previous session, Bank Nifty experienced a range breakout, which is structurally a positive sign. But today, the giftnifty indicates a negative start. So, what’s next?
> Bank Nifty has minor consolidation structure followed by a breakout. Structurally, it should not take much of a correction.
> Therefore, if the market opens negatively and finds support around the immediate support level, it may continue to consolidate within the previous day’s range. This is our first variation in this case. After that consolidation, if the market breaks the previous day's high, then the rally will likely continue.
> An alternate variation suggests that if the gap-down sustains and breaks the 38% Fibonacci level solidly or with some consolidation, the market could potentially move further down to the 50% to 61%.
> Bank Nifty has minor consolidation structure followed by a breakout. Structurally, it should not take much of a correction.
> Therefore, if the market opens negatively and finds support around the immediate support level, it may continue to consolidate within the previous day’s range. This is our first variation in this case. After that consolidation, if the market breaks the previous day's high, then the rally will likely continue.
> An alternate variation suggests that if the gap-down sustains and breaks the 38% Fibonacci level solidly or with some consolidation, the market could potentially move further down to the 50% to 61%.
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这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。