#Banknifty directions and levels for February 18th:
Current View:
the pullback has bullish momentum. So, even if the market starts negatively (as indicated by Gift Nifty), we can expect a pullback after some decline because RSI and other parameters support it.
Here, a correction will occur only if the decline forms in a straight line and consolidates around the previous bottom. Until then, we could maintain a bullish bias in today’s session.
Alternate View:
The alternate view suggests that if the market opens with a gap up or if the initial market takes a pullback, the rally will likely continue with some rejections.
the pullback has bullish momentum. So, even if the market starts negatively (as indicated by Gift Nifty), we can expect a pullback after some decline because RSI and other parameters support it.
Here, a correction will occur only if the decline forms in a straight line and consolidates around the previous bottom. Until then, we could maintain a bullish bias in today’s session.
Alternate View:
The alternate view suggests that if the market opens with a gap up or if the initial market takes a pullback, the rally will likely continue with some rejections.
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