Good morning, friends! 🌞
Market Directions and Levels for December 3rd:
No major changes have occurred in global or local markets. The global market (based on the Dow Jones) shows moderately bullish sentiment, while the local market displays a moderately bearish tone. However, GIFT Nifty today also indicates a neutral to slightly negative opening.
What to Expect Today?
Experts suggest that until the RBI policy announcement, the market may experience gradual ups and downs. We are currently in the middle of the swing, so expect some correction ahead. If support holds there, a solid pullback could follow. Let's review the charts.
Current View:
If the market gradually reaches the support levels, expect a pullback; otherwise, the correction will continue with possible consolidation.
Alternate View:
If the market pulls back initially, the 38% Fibonacci level will act as resistance. Until it breaks that mark, the market will maintain a bearish bias. If it breaks, expect the pullback to continue toward the 50% and 61% levels.
Market Directions and Levels for December 3rd:
No major changes have occurred in global or local markets. The global market (based on the Dow Jones) shows moderately bullish sentiment, while the local market displays a moderately bearish tone. However, GIFT Nifty today also indicates a neutral to slightly negative opening.
What to Expect Today?
Experts suggest that until the RBI policy announcement, the market may experience gradual ups and downs. We are currently in the middle of the swing, so expect some correction ahead. If support holds there, a solid pullback could follow. Let's review the charts.
Current View:
If the market gradually reaches the support levels, expect a pullback; otherwise, the correction will continue with possible consolidation.
Alternate View:
If the market pulls back initially, the 38% Fibonacci level will act as resistance. Until it breaks that mark, the market will maintain a bearish bias. If it breaks, expect the pullback to continue toward the 50% and 61% levels.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.