Nifty Price Prediction for 30 Sep 2024

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.

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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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