#Nifty directions and levels for July 7th:

"Good morning, Friends! 🌞

Here are the market directions and levels for July 7th:

Market Overview
Global markets have a bullish sentiment, while our local markets are showing a moderately bearish sentiment. Gift Nifty is indicating a negative start of around 30 points today.

So, what can we expect today?

The higher degrees are showing bullish sentiment; however, the lower degree is showing moderately bearish sentiment. However, both Nifty and Bank Nifty were closed in the mid-range of the swing. Therefore, until breaking either to the upside or downside of the range, we cannot get any clear direction. If it breaks, we can follow that direction.

My expectation is that, as per the wave theory, the pullback is a three-wave structure, so I'm expecting some consolidation within the range. This is my first variation (current view). On the other hand, if the decline has a solid structure and breaks the immediate support level, we can expect correction continuation. If this happens, then it could be a C or 3rd wave of the correction. This is my alternate view."