The downtrend is still left in Nifty 50 Index
Nifty 50 Index study with price action : We assume Nifty in a correction phase from 27 - 09 - 24, i.e. 119 calendar days before today. Then market did a upward retracement ( bullish ) from 22 - 11 - 24 for 22 days . This was the longest upward retracement ( bullish ) which was worth mentioning.
As per price action, the market is still in a downard retracement ( bearish ). And we assume it will correct till 5th feb 2025 before doing further upward movement (bullish) which can be short upward correction or a change in direction ( that study we can do later ).
So the summarize:
Nifty 50 downard correction to continue till 5th Feb 2025 ( will it be lowest ? )
The downard target is 21729.
The study invalidation target is 21280.
The Bank nifty study shows different and it is going to go little different from Nifty for some days ( how many days ? )
As per price action, the market is still in a downard retracement ( bearish ). And we assume it will correct till 5th feb 2025 before doing further upward movement (bullish) which can be short upward correction or a change in direction ( that study we can do later ).
So the summarize:
Nifty 50 downard correction to continue till 5th Feb 2025 ( will it be lowest ? )
The downard target is 21729.
The study invalidation target is 21280.
The Bank nifty study shows different and it is going to go little different from Nifty for some days ( how many days ? )
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