#Banknifty directions and levels for August 1st
BankNifty
BankNifty is still within a range. Both current and alternate views indicate a range market structure. Here’s the breakdown:
Current view:
If the gap-up sustains, we can expect a move to the 51825 level. If it breaks or consolidates, the pullback will likely continue to the swing high or channel top. If it doesn’t break the 51825 level, it will continue to range.
Alternate view:
If the market rejects or the gap-up doesn’t sustain, it will continue to range between 51825 (upside) and 51275 (downside). If it breaks the range in either direction, we can follow that trend.
BankNifty is still within a range. Both current and alternate views indicate a range market structure. Here’s the breakdown:
Current view:
If the gap-up sustains, we can expect a move to the 51825 level. If it breaks or consolidates, the pullback will likely continue to the swing high or channel top. If it doesn’t break the 51825 level, it will continue to range.
Alternate view:
If the market rejects or the gap-up doesn’t sustain, it will continue to range between 51825 (upside) and 51275 (downside). If it breaks the range in either direction, we can follow that trend.
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