#Nifty directions and levels for July 31st:

Good morning, friends! 🌞

Here are the market directions and levels for July 31st:

In the past two sessions, the global market (based on Dow Jones) has shown a moderately bearish sentiment,
while the local market continues to reflect a bearish tone.
Today, Gift Nifty indicates a gap-down opening of around 160 points (as per the chart).

What can we expect today?

In the previous session, both Nifty and Bank Nifty went through consolidation.
Structurally, we are still in a bearish tone, and with Gift Nifty indicating a gap-down start,
if the market breaks the immediate support levels with a solid candle, we can expect further correction.

On the other hand, if it finds support there, then the range-bound movement is likely to continue.
Which means, if the initial market takes a pullback, we can expect consolidation within the previous day’s range.