#banknifty directions and levels for FEB 9.
Banknifty also experienced a sharp correction in the last session. Here, if the market breaks the previous day's low, then we can expect further correction. However, there's a demand zone, so if the market rejects there, we can expect a minimum of a 23% to 38% pullback wave. Alternatively, if the market breaks or consolidates in the demand zone, then the correction will likely continue.
Alternatively, if the initial market takes a sharp pullback, then it might consolidate between yesterday's low and the Fibonacci level of 38%. We can expect further pullback only if it breaks the 38% level."
Alternatively, if the initial market takes a sharp pullback, then it might consolidate between yesterday's low and the Fibonacci level of 38%. We can expect further pullback only if it breaks the 38% level."
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