#Nifty directions and levels for July 8th:

Good morning, Friends! 🌞

Here are the market directions and levels for July 8th:

Market Overview
The global markets have a moderately bullish sentiment, while our local markets are showing a moderately bearish sentiment. Gift Nifty is indicating a neutral to slightly negative start of around 10 points today.

So, what can we expect today?

Last evening, the Dow Jones fell more than 1%, but Gift Nifty didn’t reflect that. However, our markets continued to trade within a range, maintaining a moderately bearish bias. So, there’s nothing new; we can follow the same sentiment we saw in the previous session.

This means if the market pulls back initially, we may see a minor pullback followed by some consolidation. This is my first variation (current view).
On the other hand, if the decline shows a solid structure and breaks the immediate support level, we can expect the correction to continue. If that happens, it could mark the beginning of a C wave or 3rd wave of the correction. This is my alternate view.