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Here are the market directions and levels for Nov 26th:
The global market (based on the Dow Jones) has shown a moderately bullish sentiment,
while the local market continues to display a moderately bearish tone. In the previous session Dow Jones took a solid pullback.
However, Gift Nifty indicates a neutral opening.
What can we expect today?
Structure remains a range market, so we can expect a range market with a moderately bearish tone.
Current view:
The current view says if the initial market declines, then the minor pullback zone will act as a support.
So if the market finds support there, it will likely close near where the market could open.
On the other hand, if the market breaks or consolidates around that zone, then the correction will likely continue.
Alternate view:
The alternate view says if the initial market takes a pullback and breaks the 38% fib level, it could reach the 78% mark —
its a range-bound market target.
In this case, if the market doesn’t break the 38% fib level, the market bias could remain bearish.
Here are the market directions and levels for Nov 26th:
The global market (based on the Dow Jones) has shown a moderately bullish sentiment,
while the local market continues to display a moderately bearish tone. In the previous session Dow Jones took a solid pullback.
However, Gift Nifty indicates a neutral opening.
What can we expect today?
Structure remains a range market, so we can expect a range market with a moderately bearish tone.
Current view:
The current view says if the initial market declines, then the minor pullback zone will act as a support.
So if the market finds support there, it will likely close near where the market could open.
On the other hand, if the market breaks or consolidates around that zone, then the correction will likely continue.
Alternate view:
The alternate view says if the initial market takes a pullback and breaks the 38% fib level, it could reach the 78% mark —
its a range-bound market target.
In this case, if the market doesn’t break the 38% fib level, the market bias could remain bearish.
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.