#Nifty directions and levels for February 12th:

Good morning, Friends! 🌞

Here are the market directions and levels for February 12th:

Market Overview

There have been no significant changes in the global or local markets. The global market continues to maintain a bullish sentiment (as indicated by the Dow Jones), while the local market is showing a moderately bearish sentiment. Today, the market may open with a neutral to slight gap-up, as the GiftNifty indicates a positive sign of 60 points.

In the previous session, both Nifty and Bank Nifty fell drastically, but by the end of the session, they could take a minor pullback. What about today? The structure seems to have a bearish bias. If the gap-up doesn't sustain, we can expect a continuation of the correction when it breaks the previous day's low. On the other hand, if the gap-up sustains, it could consolidate between the previous day's low and the 38% mark. This is the basic structure; let's look at the charts.

We are following the same sentiment we observed in the previous session. Today as well, both Nifty and Bank Nifty have similar structures.

Nifty Current View:

The current view suggests that based on the structure, the gap-up may not sustain. If the market starts to decline, it could reach a minimum of 22,903 once it breaks the previous day's low. After that, if it consolidates or breaks this level, we can expect a continuation of the correction. On the other hand, if it finds support there, it could take a maximum pullback of 23% to 38% in the minor swing. Structurally, this pullback has a lower probability.

Alternate View:

The alternate view suggests that if the market sustains the gap-up, it could reach a minimum of the 23% to 38% mark. However, the 38% level is a major resistance level. If the market rejects this level, it may consolidate between the 38% and the previous day's low with a bearish bias. However, if the market breaks the 38% level with a strong candle or after some minor consolidation, it could reach the 50% level.