#Nifty directions and levels for August 13th.

8월 13일

Good morning, friends! 🌞 Here are the directions and levels for August 13th.

Market Overview

Both global and local markets have been trading within a minor range. Today, the market may open with a neutral to slightly gap-down start because the SGX Nifty is indicating a negative 20-point move.

Nifty Analysis

Nifty showing a diagonal pattern. In the previous session, nifty had significant swings, but it closed near neutral by the end of the day. If we simplify it, we can say it's a range market. However, structurally, it’s a diagonal pattern, and there’s no real difference between the two because both are time adjustment patterns.

So, we should wait for a breakout from this range, whether to the upside or downside. If it breaks out, we can expect only a minor trend initially because the structure suggests there isn’t a big move ahead. But if we see a solid breakout candle, then we can expect stronger momentum. This forms our basic structure. However, if the range isn’t broken, the market will likely continue moving within it.