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Here are the market directions and levels for July 17th:
There have been no major changes in the global market; it continues to maintain a moderately bearish sentiment.
Meanwhile, our local market is showing a moderately bullish tone on the lower time frame. Today, Gift Nifty is indicating a neutral to slightly gap-up start.
So, what can we expect today?
In the previous session, both Nifty and Bank Nifty moved with ups and downs. Structurally, the sentiment still remains the same.
Even if the market opens with a gap-up, we can expect some rejection near immediate resistance.
So, my expectation is that the market may behave similarly to the previous session.
If it starts with a pullback, we may see rejection afterward.
On the other hand, if it starts with a decline, we can expect a pullback later.
The key point to note is that clear directional moves are likely only if a strong candle forms after consolidation.
Here are the market directions and levels for July 17th:
There have been no major changes in the global market; it continues to maintain a moderately bearish sentiment.
Meanwhile, our local market is showing a moderately bullish tone on the lower time frame. Today, Gift Nifty is indicating a neutral to slightly gap-up start.
So, what can we expect today?
In the previous session, both Nifty and Bank Nifty moved with ups and downs. Structurally, the sentiment still remains the same.
Even if the market opens with a gap-up, we can expect some rejection near immediate resistance.
So, my expectation is that the market may behave similarly to the previous session.
If it starts with a pullback, we may see rejection afterward.
On the other hand, if it starts with a decline, we can expect a pullback later.
The key point to note is that clear directional moves are likely only if a strong candle forms after consolidation.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.