Nifty Price Prediction for 09 Oct 2024

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.


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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.

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