Nifty Price Prediction for 06 Nov 2024

 After a small retracement, the Nifty 50 may see an aggressive upward movement. Levels 24,090 and 24,040 will serve as important downside supports throughout this corrective period. The wave count suggests that prices may rise in three distinct waves after testing support at these lower levels.


NIFTY 50 / 5 MIN

If an impulsive rally begins on the upside, the Nifty might see a big upward trend. In this case, the levels of 24,430 and 24,670 serve as the main points of resistance. However, if the price begins to trend lower, this wave count will become invalid, 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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