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The Nifty chart shows that the  correction  is not yet over, which might mean that prices go down tomorrow. In such cases, the market can bounce up for some time before continuing its longer-term decline. This scenario is consistent with a continuation of the corrective phase and a subsequent downward trend. NIFTY 50 / 5 MIN If we look at the downside, we can see that the 61% and 78% Fibonacci retracement levels provide crucial support, with the first level being at about 24,900 and the second reaching 24,800. It is possible that prices may fall even deeper if the market breaks below the previous low. This might prompt another sharp move to the negative. Traders must closely monitor this as it could signal the start of the next  impulsive  decline in tomorrow’s market session. Last Update Disclaimer This post is just for informative purposes and does not constitute financial advice. Trading and investing involve risk, and past performance does not guarantee future results. Before makin

The Nifty chart might see another correction, perhaps sliding lower after completing a complex corrective wave . Consistent with the present market structure, this suggests that the larger trend, which could be pointing downwards in this instance, would likely persist after periods of choppy or sideways action. NIFTY 50 / 5MIN The 38% Fibonacci retracement level, at around 15,125, is the first significant level to monitor for resistance, followed by the 50% retracement level, at 25,250, which is a more substantial barrier. In tomorrow's market activity, these levels will serve as important resistance marks and give clues as to the market's next possible direction. Last Update Disclaimer This post is just for informative purposes and does not constitute financial advice. Trading and investing involve risk, and past performance does not guarantee future results. Before making an investing or trading choice, readers should undertake their own research and evaluate their own circum

Here we may be entering an extended corrective period if we believe the long bearish move in Bank Nifty has finished. According to  Elliott Wave Theory ,  this is likely a complicated correction  that forms Wave 4. After this  correction , another price decline may occur. Traders, be prepared for some choppy or sideways action before the next leg of the downward trend appears. BANK NIFTY / 5 MIN Bank Nifty’s price has the  potential to reach 51,950  if our wave count is right and a correction occurs at this time. After the first 23% retracement, the next  Fibonacci  retracement level that would act as resistance is around the 38% mark, which is equivalent to a price level of 52,300. These resistance levels will guide the potential top limits of this corrective move, so it’s critical to monitor them in tomorrow’s (7 Oct’24) market activity. Last Update Disclaimer This post is just for informative purposes and does not constitute financial advice. Trading and investing involve risk, and

  The Nifty chart has  corrected  to be consistent with predictions, and if the prior wave counts are valid, a downward  impulse  might happen now. On the other hand, pace-wise, it’s likely to be slower than the last impulse. NIFTY 50 / 5MIN A possible destination for the Nifty 50 at 25,280 would be a 100% price decline from the previous slope. The market finds strong support around 25,400, indicating a 78% retracement just before reaching that level. Last Update Disclaimer This post is just for informative purposes and does not constitute financial advice. Trading and investing involve risk, and past performance does not guarantee future results. Before making an investing or trading choice, readers should undertake their own research and evaluate their own circumstances. The author and platform accept no responsibility for any financial losses or damages stemming from the use of this material. Receive personalized advice from a qualified financial advisor.

The Nifty chart suggests that a correction may be approaching after a recent impulsive move. According to Elliott Wave Theory, a  corrective wave , particularly Wave 4, may occur over a small time frame if the most current  impulse  has finished. We predict a primary resistance at 25,890 and a second one at 25,950. NIFTY 50 / 5MIN Another bearish impulse, suggesting more downward movement, may arise after this corrective period. This study provides valuable insights into the possible movement of the Nifty price in the next sessions. Last Update Disclaimer This post is just for informative purposes and does not constitute financial advice. Trading and investing involve risk, and past performance does not guarantee future results. Before making an investing or trading choice, readers should undertake their own research and evaluate their own circumstances. The author and platform accept no responsibility for any financial losses or damages stemming from the use of this material. Receive

After an upbeat rally, the Nifty may have a modest retracement. In the past, if Wave 3 of the   Elliott Wave pattern   finished at its most recent high, we may witness a 23% drop. This suggests that   Nifty’s current price movement might send it down   to a vital support level of 25,950. This correction is an expected phase of the market cycle, enabling the  index  to  consolidate before possibly resuming its upward trend . NIFTY 50 / 5MIN The  38%  Fibonacci retracement level  is the next important support level after the 23%  decline. In order to accurately predict the movement of the Nifty and Bank Nifty tomorrow, it is crucial to comprehend these levels of support and resistance. If the correction is already over, we may observe an  impulsive  upward movement  in Nifty price action, indicating a possible continuation of the bullish trend. Last Update Disclaimer This post is just for informative purposes and does not constitute financial advice. Trading and investing involve risk, a