#Nifty directions and levels for July 3rd.

Good morning, friends! 🌺🍬 Here are the directions for July 3rd:

The global market continues to range based on the Dow Jones. Our local markets are showing moderately bullish sentiment. However, today, the market may open with a gap-up start, as indicated by GiftNifty, which shows an increase of 80 points (as of 8:00 AM).

Yesterday also, Nifty performed slightly better than Banknifty, and their structures also differ slightly. Let's look at each one individually.

> Nifty was rejected around its all-time high in yesterday's session. Today, GiftNifty is showing a gap-up start, so the market might break the all-time high once again today.
> But if you ask if we can expect a sharp rally if the market breaks the all-time high, structurally the probability is less.
> The wave suggests that if the gap-up sustains, we can expect a diagonal pattern. This means if the market rejects around the immediate resistance level, it could retrace a maximum of 38% to 61%, but it won't break the previous day's low. This is our first variation.
> In this variation, the rally continuation will occur only if it breaks the supply zone with minor consolidation.

Alternatively, if the gap-up doesn't sustain or if the initial market takes a sharp decline, we can expect a range-bound market between the past two trading session ranges.