Bank Nifty:
> As per the weekly analysis, we expect the rally to sustain at the 78% Fibonacci level, and if it does, the rally could continue further. However, yesterday the market sharply rejected the 78% level, indicating an alternate view.
> According to this alternate view, we can initially expect a range market if today's market finds support around the immediate support level. If this happens, we can expect a minor pullback of 38% to 50%. This is our first variation.
> The alternate variation indicates that if the correction shows aggression, we can expect the correction to continue with some minor consolidations.
> As per the weekly analysis, we expect the rally to sustain at the 78% Fibonacci level, and if it does, the rally could continue further. However, yesterday the market sharply rejected the 78% level, indicating an alternate view.
> According to this alternate view, we can initially expect a range market if today's market finds support around the immediate support level. If this happens, we can expect a minor pullback of 38% to 50%. This is our first variation.
> The alternate variation indicates that if the correction shows aggression, we can expect the correction to continue with some minor consolidations.
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