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Here are the market directions and levels for June 25:
Market Overview
The global market is showing bullish sentiment, while our local market is still maintaining a moderately bullish bias.
However, Gift Nifty is indicating a positive start of 103 points today.
So, what can we expect today?
Once again, the same thing happened in the previous session — even though the market started with a positive bias, it couldn't sustain.
Structurally, we are still in a range-bound market,
so even if the market opens positive, we can expect a correction at some point.
Let’s look at the chart for more clarity.
Both Nifty and Bank Nifty appear to be showing a similar structure.
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 24,968, 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 78%,level.
If it does break, we can expect a rally, though some rejections may occur along the way.
Here are the market directions and levels for June 25:
Market Overview
The global market is showing bullish sentiment, while our local market is still maintaining a moderately bullish bias.
However, Gift Nifty is indicating a positive start of 103 points today.
So, what can we expect today?
Once again, the same thing happened in the previous session — even though the market started with a positive bias, it couldn't sustain.
Structurally, we are still in a range-bound market,
so even if the market opens positive, we can expect a correction at some point.
Let’s look at the chart for more clarity.
Both Nifty and Bank Nifty appear to be showing a similar structure.
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 24,968, 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 78%,level.
If it does break, we can expect a rally, though some rejections may occur along the way.
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.
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.