#October12 direction and levels for Banknifty

"Good morning, friends! As of October 12th, global market sentiment is slightly positive, as indicated by the Dow Jones. However, our market trend is bullish. It may open with a gap-up. After that, if it breaks the previous day's high, we can expect sub-wave 5. It's a distribution wave, so the structure is important. If the breakout structure is solid, then we can anticipate a rally continuation with minor consolidation. We can expect a correction only if it reaches the immediate resistance level with minor pullbacks, at which point we can complete the 5th wave and anticipate a correction. On the other hand, if the gap-up doesn't sustain, sub-wave 4 may likely continue."