#Banknifty directions and levels for December 12th.
Good Morning, friends! 🌞 Here are the market directions and levels for December 12th.
Market Overview:
There have been no significant changes in global and local markets, and both continue to maintain a bullish sentiment. Today, the market is expected to open with a neutral to slightly gap-down start, as the Gift Nifty is showing a negative 10 points at 8:00 AM.
In the first two trading sessions of the week, there were no major events in either the local or global markets, leading to choppy movements. However, yesterday, the US market had inflation data released. Interestingly, the market did not react significantly to the data, with the Dow Jones ending slightly negative. This indicates that it might not have much of an impact on our market today.
What About Today?
Even though we are in a range-bound market, the overall bias remains bullish. So, even if the market starts on a negative note or undergoes some initial correction, it is likely to bounce back by the end of the day. On the other hand, if the market pulls back and sustains its levels, we can expect the rally to continue.
It's important to note that these scenarios will only unfold if the market breaks the minor range that I mentioned in the chart. Apart from this, all the relevant information has been discussed in the previous sessions, which we can continue to follow for guidance.
Market Overview:
There have been no significant changes in global and local markets, and both continue to maintain a bullish sentiment. Today, the market is expected to open with a neutral to slightly gap-down start, as the Gift Nifty is showing a negative 10 points at 8:00 AM.
In the first two trading sessions of the week, there were no major events in either the local or global markets, leading to choppy movements. However, yesterday, the US market had inflation data released. Interestingly, the market did not react significantly to the data, with the Dow Jones ending slightly negative. This indicates that it might not have much of an impact on our market today.
What About Today?
Even though we are in a range-bound market, the overall bias remains bullish. So, even if the market starts on a negative note or undergoes some initial correction, it is likely to bounce back by the end of the day. On the other hand, if the market pulls back and sustains its levels, we can expect the rally to continue.
It's important to note that these scenarios will only unfold if the market breaks the minor range that I mentioned in the chart. Apart from this, all the relevant information has been discussed in the previous sessions, which we can continue to follow for guidance.
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