#Nifty directions and levels for July 23rd:Good morning, friends! 🌞
Here are the market directions and levels for July 23rd:
The global market shows no major changes and continues to maintain a moderately bearish sentiment.
Meanwhile, the local market is exhibiting a moderately bullish tone. Today, Gift Nifty indicates a gap-up opening of around 60 points.
What can we expect today?
In the previous session, both Nifty and Bank Nifty couldn't sustain the gap-up start. Structurally, we are still in an unclear zone.
However, my expectation is that today’s market may take some consolidation after the gap-up start.
Looking at the chart, the current view suggests:
* If the market sustains the gap-up and breaks the immediate resistance, we can expect the pullback to continue with a moderately bullish tone.
Alternate view:
* If the gap-up doesn’t sustain and the market declines initially, it may reach the immediate support level.
* If a pullback happens from there, we can expect a range-bound market.
* Conversely, if the support breaks, the correction is likely to continue.
