#Banknifty directions and levels for October 14th.
Bank Nifty:
Bank Nifty is also in a range-bound market. However, the current view suggests that if the market opens with a gap-up or breaks the immediate resistance, we can expect a move towards 51,520. after that, If it rejects at that level, the range-bound market will likely continue. On the other hand, if it consolidates or breaks through, we can expect a rally continuation.
Alternate View:
The alternate view suggests that if the market opens negatively, we may see a gradual move towards 50,806. If that happens, we can expect a solid bounce back if the market rejects that level. On the other hand, if the decline forms a solid structure and consolidates around the MDZ, the correction is likely to continue.
Bank Nifty is also in a range-bound market. However, the current view suggests that if the market opens with a gap-up or breaks the immediate resistance, we can expect a move towards 51,520. after that, If it rejects at that level, the range-bound market will likely continue. On the other hand, if it consolidates or breaks through, we can expect a rally continuation.
Alternate View:
The alternate view suggests that if the market opens negatively, we may see a gradual move towards 50,806. If that happens, we can expect a solid bounce back if the market rejects that level. On the other hand, if the decline forms a solid structure and consolidates around the MDZ, the correction is likely to continue.
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