Nifty Bank Index

#Banknifty directions and levels for October 16th.

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Bank Nifty Current View:

Similar to Nifty, if Bank Nifty starts with a gap-down, it may consolidate between the previous high and the downside minor demand zone (51661). This is the basic structure.

Alternate View:

The alternate view suggests that if the market breaks this level solidly or consolidates around the minor demand zone (51661), then the correction is likely to continue towards the 38% Fibonacci level.
Nota
snapshot

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