#Banknifty directions and levels for DEC 19th
"Good morning, friends. Directions for December 19th: The global market sentiment is bullish, supported by the Dow Jones. However, our local market sentiment shows a bullish trend. It might open with a neutral start based on Giftnifty, which shows +3.
The previous sentiment has not changed. Structurally, the market is moving in consolidation (range market), so we should wait for the breakout. If it breaks the immediate resistance, then we can expect a rally continuation. On the other hand, if it breaks the immediate support, we can expect the 3rd minor wave, which might entail some long correction. However, the important thing is the structure; if it forms a solid structure, we can expect continuation; otherwise, the range will persist."
The previous sentiment has not changed. Structurally, the market is moving in consolidation (range market), so we should wait for the breakout. If it breaks the immediate resistance, then we can expect a rally continuation. On the other hand, if it breaks the immediate support, we can expect the 3rd minor wave, which might entail some long correction. However, the important thing is the structure; if it forms a solid structure, we can expect continuation; otherwise, the range will persist."