#Banknifty directions and levels for June 25:

498
Current View
The current structure suggests that even if the market opens with a gap-up, it may not sustain.

If the initial market declines and consolidates around the 78% Fibonacci level, then we can expect the correction to continue.

On the other hand, if the decline sees a solid pullback around 50%, then we can expect a minimum pullback of 38% to 61% in the minor swing.

Alternate View

Structurally, the probability of a rally continuation is low,
which means we won’t get a bullish signal unless the price breaks above the 56736)level.

If it does break, we can expect a rally, though some rejections may occur along the way.

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