Banknifty closed suuuper bullish on 30th August.
Which brings the following possibilities.
1. The market opens with a gapup, say 300-400 points higher. On which case, we could see some profit booking immediately and then there could be a consolidation.
2. Market opens between 39400-39550 levels, the market could build momentum and push higher to about 39900 levels and then consolidate in that range.
3. Market gaps down, say to 39200 level, which could cause a panic and cause continued selling, causing the market to reach 38800-38900 levels.
Which brings the following possibilities.
1. The market opens with a gapup, say 300-400 points higher. On which case, we could see some profit booking immediately and then there could be a consolidation.
2. Market opens between 39400-39550 levels, the market could build momentum and push higher to about 39900 levels and then consolidate in that range.
3. Market gaps down, say to 39200 level, which could cause a panic and cause continued selling, causing the market to reach 38800-38900 levels.