Good morning, friends! 🌺🍬 Here are the directions for May 23rd:
The global market is showing a moderately bullish sentiment based on the Dow Jones, and our local market also suggests a similar trend. We might see a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 30 points.
Nifty has been maintaining a bullish bias within a consolidation structure. However, GiftNifty indicates a slightly negative start. If the market opens with a gap-down and sustains it, we could see a correction of 23 to 38%.
On the other hand, if the market initially takes a sharp pullback, it may continue the rally with a diagonal formation.
The global market is showing a moderately bullish sentiment based on the Dow Jones, and our local market also suggests a similar trend. We might see a neutral to slightly gap-down start, as indicated by GiftNifty, which shows a decrease of 30 points.
Nifty has been maintaining a bullish bias within a consolidation structure. However, GiftNifty indicates a slightly negative start. If the market opens with a gap-down and sustains it, we could see a correction of 23 to 38%.
On the other hand, if the market initially takes a sharp pullback, it may continue the rally with a diagonal formation.