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Market directions and levels for December 10th:
There are no significant changes in the global or Indian markets. The Dow Jones is maintaining a moderately bullish sentiment, while the Indian market indicates a bearish outlook. Today, the GIFT Nifty is expected to open with a neutral stance.
What to expect today?
In the previous session, both Nifty and Bank Nifty bounced back after a gap-down start. Structurally, this is a retracement, not a reversal. However, the open interest (OI) data shows a slightly different picture. Nifty still maintains a bearish bias, while Bank Nifty’s OI suggests a slightly bullish sentiment. Usually, this kind of mixed sentiment—Nifty bearish and Bank Nifty bullish—leads to consolidation. So, the market is likely to end the day in consolidation mode.
On the other hand, If the market initially pulls back and then breaks the previous high with a strong candle structure, the bounce back is likely to continue.
Market directions and levels for December 10th:
There are no significant changes in the global or Indian markets. The Dow Jones is maintaining a moderately bullish sentiment, while the Indian market indicates a bearish outlook. Today, the GIFT Nifty is expected to open with a neutral stance.
What to expect today?
In the previous session, both Nifty and Bank Nifty bounced back after a gap-down start. Structurally, this is a retracement, not a reversal. However, the open interest (OI) data shows a slightly different picture. Nifty still maintains a bearish bias, while Bank Nifty’s OI suggests a slightly bullish sentiment. Usually, this kind of mixed sentiment—Nifty bearish and Bank Nifty bullish—leads to consolidation. So, the market is likely to end the day in consolidation mode.
On the other hand, If the market initially pulls back and then breaks the previous high with a strong candle structure, the bounce back is likely to continue.
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.