Good morning, friends! Here are the directions for April 5th:
The global market trend remains bearish, supported by the Dow Jones, while our local market sentiment indicates a still moderately bullish trend. It might open with a gap-down start, as suggested by Giftnifty, showing a -110 point.
Nifty broke the all-time high after the long consolidation in the last session, but today Giftnifty indicates a negative start. So, if the market opens with a gap-down, then we can expect a range market that couldn't break the immediate demand zone. If the market finds support there, we can expect a minimum of 38 to 50% pullback; after that bounce back, if it sustains, it may continue the range, or if it breaks that zone, it may fall further.
Alternatively, if the market doesn't find support there (minor demand zone), then we can expect correction continuation that may reach a minimum of 22268 to 22229.
The global market trend remains bearish, supported by the Dow Jones, while our local market sentiment indicates a still moderately bullish trend. It might open with a gap-down start, as suggested by Giftnifty, showing a -110 point.
Nifty broke the all-time high after the long consolidation in the last session, but today Giftnifty indicates a negative start. So, if the market opens with a gap-down, then we can expect a range market that couldn't break the immediate demand zone. If the market finds support there, we can expect a minimum of 38 to 50% pullback; after that bounce back, if it sustains, it may continue the range, or if it breaks that zone, it may fall further.
Alternatively, if the market doesn't find support there (minor demand zone), then we can expect correction continuation that may reach a minimum of 22268 to 22229.