#Banknifty directions and levels for January 9th, Thursday:
Bullish View:
The bullish view indicates that even if the market opens with a gap-down, it could take a minor pullback. If this happens, the immediate resistance could be the pullback target. However, until it breaks the immediate resistance 38%, the market could consolidate between 38% and 49522. If it breaks the immediate resistance, we can expect pullback continuation.
Bearish View:
This is similar to the first one, meaning initially we can expect a range-bound market. If it breaks the bottom of the range, we can expect a continuation of the correction. This is today's basic structure.
The bullish view indicates that even if the market opens with a gap-down, it could take a minor pullback. If this happens, the immediate resistance could be the pullback target. However, until it breaks the immediate resistance 38%, the market could consolidate between 38% and 49522. If it breaks the immediate resistance, we can expect pullback continuation.
Bearish View:
This is similar to the first one, meaning initially we can expect a range-bound market. If it breaks the bottom of the range, we can expect a continuation of the correction. This is today's basic structure.
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