Nifty Price Prediction for 18 Oct 2024
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.
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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