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As we anticipated, we could be witnessing the emergence of an impulse wave, possibly in its sub- wave 3 phase. If the wave counts are correct, the market may see a sharp upswing in just one, concentrated surge. NIFTY 50 / 5 MIN For the Nifty 50, the major resistance level is 24,800, with an extra resistance level at 24,550. If the price breaks out over the 100% Fibonacci level , it may continue to rise until it reaches the 161% extension . At 24,430 and 24,400, you may find important support levels on the downside. On the other hand, this wave count would become invalid if prices started to trend downward, signaling a change in the market's 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 circumstances. The a...

When examining the recent down move in the Bank Nifty, a definite ABC corrective pattern appears , followed by a rapid surge higher. The present bullish trend is likely to continue after a short pullback, predicting additional upward waves. BANK NIFTY / 5 MIN If the Bank Nifty downturn is over, the next major resistance levels to monitor are the 100% and 161% Fibonacci extensions, which are at 52,280 and 53,000, respectively. But if the downturn isn't over yet, 51,000 and 50,850 are support zones. This wave count would become irrelevant if the market were to turn and go lower, indicating a shift in the market's view. 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 resp...

 If you look attentively, you'll note an impulsive move from the recent bottom in the Nifty 50 over a shorter time frame. Following this motive wave , the market has inevitably entered a correction period. After this pullback, another upward-trending motive wave could occur, indicating that the bullish advance would likely continue. NIFTY 50 / 5 MIN Another upward surge might be possible if wave counts are accurate. Near 24,620, 24,710, and 24,979, respectively, you can find the 78%, 100%, and 161% Fibonacci extensions, which are important levels of resistance for this movement. At the same time, the levels of 24,280 and 24,230 provide vital support. However, if the market falls below the previous low, the current wave count will no longer be valid, indicating a change in market 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 r...

It is possible that the Nifty 50 may shortly start a new correction phase . Assuming the wave counts are right, Nifty may encounter a zigzag correction before returning its downward trend. NIFTY 50 / 5 MIN In this scenario, we anticipate substantial resistance from the 23% and 38% Fibonacci retracement levels. You should monitor the crucial resistance levels at 24,300, 24,400, and 24,500 . In order to prepare for tomorrow's market developments, traders should keep a careful eye on these resistance areas. 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 fro...

The price overlap on the Nifty chart indicates that the correction is still ongoing, even without knowing anything more. Our best guess is that this phase of correction will take longer than expected. There is likely to be one more upward rise remaining before the correction ends , regardless of whether it's a flat or triangular correction. After the correction is over, the market will likely turn negative again, which might mean the decline will quickly continue. NIFTY 50 / 5 MIN When looking at the downside, prices may find support around 24,700, 24,600, and 24,570, which are important support levels to monitor before costs begin to rise again . Conversely, 25,000 and 25,100 serve as the first points of resistance. A sudden and severe decline could occur if the wave count is wrong and the price falls below the previous low. Last Update Disclaimer This post is just for informative purposes and does not constitute financial advice. Trading and investing involve risk, and past pe...

 Presently, Nifty 50 may be exhibiting the ABCDE formation, a triangle correction pattern in which the structure follows a 3-3-3-3-3 sub wave pattern. According to this scenario, Nifty may reach the upper trendline before finishing the pullback. Once the correction concludes, this wave count indicates the possibility of another impulsive downward move, implying the continuation of the larger downturn. NIFTY 50 / 5 MIN A fresh wave count may be in store if Nifty breaks below its current low and keeps falling. If that's the case, a steep fall might happen sooner rather than later, indicating the start of a major bearish trend. 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 n...

 Assuming the current upward trend in the Nifty 50 continues, it is possible that the index might hit the 25,400 level. However, the first resistance level to monitor would be 25,250. It seems based on the price movement that the market is now experiencing an impulsive upswing, which might lead to short-term positive momentum . NIFTY 50 / 5 MIN After this surge, the market can go into negative territory once again . A downward impulse, indicating a major drop, may emerge following the end of the correction over the longer time frame. This suggests that the overall downward trend is likely to continue, potentially leading to a significant drop in prices. 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...

Over the last four trading days, the Nifty 50 has persisted in the corrective period that we projected. The Nifty chart may soon show a bullish movement if the wave count is correct. Around 25,100 would be the initial upward resistance level, with 25,200 serving as a secondary barrier. Be on watch for indications of rising momentum at these levels. NIFTY 50 / 5 MIN The opposite is true if market sentiment goes negative; an extended decline in price is possible. Price action might become negative if it breaks below the chart's important lower levels . 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 o...

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 re...

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. T...

  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 mate...

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 n...