#nifty directions and levels for October 9th.
"Good morning, friends! 🌞 Here are the market directions and levels for October 9th.
Market Overview:
The global market is still maintaining a moderately bullish sentiment, while our local market shows a moderately bearish trend. A neutral to gap-up opening is expected today, with SGX Nifty indicating a positive move of around +20 points as of 8 AM.
Today, we have a major event: the RBI monetary policy announcement. This means the market is likely to move based on this data, which will be released around 10 AM. Therefore, technical analysis may not play a significant role today.
However, structurally, both the Nifty and Bank Nifty remain in a bearish bias since they haven't broken the 38% Fibonacci level in the overall correction. So, if the market rejects the key resistance level, we can expect the correction to continue."
Market Overview:
The global market is still maintaining a moderately bullish sentiment, while our local market shows a moderately bearish trend. A neutral to gap-up opening is expected today, with SGX Nifty indicating a positive move of around +20 points as of 8 AM.
Today, we have a major event: the RBI monetary policy announcement. This means the market is likely to move based on this data, which will be released around 10 AM. Therefore, technical analysis may not play a significant role today.
However, structurally, both the Nifty and Bank Nifty remain in a bearish bias since they haven't broken the 38% Fibonacci level in the overall correction. So, if the market rejects the key resistance level, we can expect the correction to continue."
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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.
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.