What can we expect today?
In the previous session, both Nifty and Bank Nifty took a solid pullback after the gap-down start.
However, neither of them broke the 38% Fibonacci level in the current swing.
So, unless the 38% level is broken, we should continue to approach the market with a bearish view.
At the same time, key parameters have been lagging recently, which has made it difficult for the market to take a clear direction.
My primary expectation is consolidation within the previous day's range.
However, if the market breaks the bottom with a solid structure, then we can expect the correction to continue.
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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.