#Banknifty directions and levels for February 14th:
Current View
We are in the mid-level of the current swing, so we cannot take a single-direction approach. However, the trend shows a slightly bearish bias. If the initial market declines, we can expect a minimum downside of 49,159. This is an Expanding Flat correctional pullback zone. If the market rejects sharply from this zone, we can expect a pullback that could at least reach today’s opening level.
> On the other hand, if the decline has a solid structure and breaks this zone or consolidates around it, the correction is likely to continue.
Alternate View
The alternate view suggests that if the market sustains the gap-up, 49,716 will act as a major resistance. So, until this level is broken, we can expect consolidation within the previous day’s range. If it breaks with a solid structure, the next target will be the top of the channel.
We are in the mid-level of the current swing, so we cannot take a single-direction approach. However, the trend shows a slightly bearish bias. If the initial market declines, we can expect a minimum downside of 49,159. This is an Expanding Flat correctional pullback zone. If the market rejects sharply from this zone, we can expect a pullback that could at least reach today’s opening level.
> On the other hand, if the decline has a solid structure and breaks this zone or consolidates around it, the correction is likely to continue.
Alternate View
The alternate view suggests that if the market sustains the gap-up, 49,716 will act as a major resistance. So, until this level is broken, we can expect consolidation within the previous day’s range. If it breaks with a solid structure, the next target will be the top of the channel.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.