#Banknifty directions and levels for January 14th, Tuesday:
Current View:
The current view, based on the structure, is that as per the long correction, this kind of gap-up might not sustain.
> If the initial market declines, it could consolidate between the previous low and today’s opening price, or to the 38% resistance level.
> After that, if it breaks the previous low, then the correction will likely continue.
Alternate View:
The alternate view says:
> If the gap-up sustains or if it breaks the major resistance at 38% with a solid candle, then it could reach a minimum of 50% to 61% in the minor swing.
The current view, based on the structure, is that as per the long correction, this kind of gap-up might not sustain.
> If the initial market declines, it could consolidate between the previous low and today’s opening price, or to the 38% resistance level.
> After that, if it breaks the previous low, then the correction will likely continue.
Alternate View:
The alternate view says:
> If the gap-up sustains or if it breaks the major resistance at 38% with a solid candle, then it could reach a minimum of 50% to 61% in the minor swing.
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