#nifty directions and levels for October 14th.
Good morning, friends! 🌞 Here are the market directions and levels for October 14th.
Market Overview:
There have been no significant changes in the global or local markets. The global market is showing a bullish sentiment, while our local market has a moderately bearish trend. We anticipate a neutral to slightly gap-up opening today, with SGX Nifty indicating a positive +10 points as of 8 AM.
In the previous session, Nifty closed with consolidation, while Bank Nifty experienced a minor correction. However, structurally, both are in a range-bound phase. Trading in a range market can be difficult as we may not see clear movement, direction, or option premium. However, if you’re looking to trade, we can consider a breakout entry, which I'll explain in the charts.
Nifty:
> If the market breaks either above 25,040 or below 24,897, we can enter a breakout trade. Target levels are 25,167 on the upside and 24,810 on the downside.
> It is important to note that after a breakout, if the market experiences gradual movements or rejects the immediate support or resistance level, it is likely to close at the same level as it opened today.
> On the other hand, if the market consolidates around the immediate support or resistance level after the breakout, the direction is likely to continue.
Market Overview:
There have been no significant changes in the global or local markets. The global market is showing a bullish sentiment, while our local market has a moderately bearish trend. We anticipate a neutral to slightly gap-up opening today, with SGX Nifty indicating a positive +10 points as of 8 AM.
In the previous session, Nifty closed with consolidation, while Bank Nifty experienced a minor correction. However, structurally, both are in a range-bound phase. Trading in a range market can be difficult as we may not see clear movement, direction, or option premium. However, if you’re looking to trade, we can consider a breakout entry, which I'll explain in the charts.
Nifty:
> If the market breaks either above 25,040 or below 24,897, we can enter a breakout trade. Target levels are 25,167 on the upside and 24,810 on the downside.
> It is important to note that after a breakout, if the market experiences gradual movements or rejects the immediate support or resistance level, it is likely to close at the same level as it opened today.
> On the other hand, if the market consolidates around the immediate support or resistance level after the breakout, the direction is likely to continue.
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