Nifty Price Prediction for 29 Oct 2024

 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.


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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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