As we all know, Bank Nifty is highly sensitive and tends to react quickly to news events.
Currently, there is ongoing conflict between India and Pakistan, which has caused Bank Nifty to open with consistent gap-downs, followed by rangebound movement for the rest of the day.
However, recent developments indicate that Pakistan has realized it cannot continue the conflict without risking being removed from the global map. As a result, they are now ready for a ceasefire.
As I said, Bank Nifty is very sensitive, hence we can see a good gap-up opening.
Bank Nifty can jump towards the 0.886 Fibonacci level, which is nothing but 54,800–55,600 zone.
Traders should remain cautious but optimistic, and watch key levels carefully.
Currently, there is ongoing conflict between India and Pakistan, which has caused Bank Nifty to open with consistent gap-downs, followed by rangebound movement for the rest of the day.
However, recent developments indicate that Pakistan has realized it cannot continue the conflict without risking being removed from the global map. As a result, they are now ready for a ceasefire.
As I said, Bank Nifty is very sensitive, hence we can see a good gap-up opening.
Bank Nifty can jump towards the 0.886 Fibonacci level, which is nothing but 54,800–55,600 zone.
Traders should remain cautious but optimistic, and watch key levels carefully.
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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.