#Banknifty directions and levels for NOV 29th
"Good morning, friends🌺! As of November 29th, the global market sentiment remains bullish, as indicated by the Dow Jones. However, our local market shows a moderately bullish trend. It might open with a slight gap-up start, considering the GiftNifty value at +60.
If the gap-up sustains, then we can expect a rally continuation with minor consolidation. On the other hand, if the gap-up doesn't sustain or if it sharply rejects around the immediate resistance level, then we can expect a correction, which may involve a minimum 23% to 38% Fibonacci correction. However, a proper reversal will only occur if it breaks the 38% level."
If the gap-up sustains, then we can expect a rally continuation with minor consolidation. On the other hand, if the gap-up doesn't sustain or if it sharply rejects around the immediate resistance level, then we can expect a correction, which may involve a minimum 23% to 38% Fibonacci correction. However, a proper reversal will only occur if it breaks the 38% level."