#Banknifty directions and levels for November 27th.
Bank Nifty Current View:
Bank Nifty has a similar sentiment to Nifty. If there is an initial market decline, we can expect range market continuation between the previous high and the downside demand zone.
Alternate View:
The alternate scenario suggests that if the market sustains the gap-up, it could reach 52680, which is a major resistance. After the rally, if it rejects there, we can expect a minimum correction of 23% to 38% in the minor swing. On the other hand, if it sustains or breaks this level(52680), then the rally will likely continue.
Bank Nifty has a similar sentiment to Nifty. If there is an initial market decline, we can expect range market continuation between the previous high and the downside demand zone.
Alternate View:
The alternate scenario suggests that if the market sustains the gap-up, it could reach 52680, which is a major resistance. After the rally, if it rejects there, we can expect a minimum correction of 23% to 38% in the minor swing. On the other hand, if it sustains or breaks this level(52680), then the rally will likely continue.
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