#Banknifty directions and levels for November 8th.
Bullish View:
> The bullish view indicates that if the initial market takes a pullback, then structurally it could be rejected around the immediate resistance level. If this happens, we can expect the correctional targets to be today’s opening price and the next to the yesterday low.
> However, if the pullback has a solid structure, it could reach the second resistance level (which is the 78% level of the minor swing) because an ideal target in a range market is 78%, which is why I mentioned that level.
Bearish View:
> The bearish view suggests that there is a single sub-wave bending, so if the market breaks the previous day's low, then the immediate support may act as a strong support level. If this happens, we can expect a minimum bounce back of 23% to 38%.
> Alternatively, if it breaks that level solidly, then the correctional trend will likely continue.
> The bullish view indicates that if the initial market takes a pullback, then structurally it could be rejected around the immediate resistance level. If this happens, we can expect the correctional targets to be today’s opening price and the next to the yesterday low.
> However, if the pullback has a solid structure, it could reach the second resistance level (which is the 78% level of the minor swing) because an ideal target in a range market is 78%, which is why I mentioned that level.
Bearish View:
> The bearish view suggests that there is a single sub-wave bending, so if the market breaks the previous day's low, then the immediate support may act as a strong support level. If this happens, we can expect a minimum bounce back of 23% to 38%.
> Alternatively, if it breaks that level solidly, then the correctional trend will likely continue.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.