#Nifty directions and levels for JAN 24th
#Nifty
"Nifty had a sharp correction. structurally, it might be in a 'C' or '3rd' wave. So, if the market opens with a gap-down, then the correction will likely continue. After the correction, if the market takes support around 21,159 or the Demand zone, we can expect a minimum of a 23% to 38% pullback wave. However, if it doesn't take support, then we can expect further correction.
Alternatively, if the market opens with a gap-up, then initially we could expect a 23% to 38% pullback wave. After that, if it rejects there (at 38%), then we can expect correction continuation (meaning the 'C' leg continuation).
"Nifty had a sharp correction. structurally, it might be in a 'C' or '3rd' wave. So, if the market opens with a gap-down, then the correction will likely continue. After the correction, if the market takes support around 21,159 or the Demand zone, we can expect a minimum of a 23% to 38% pullback wave. However, if it doesn't take support, then we can expect further correction.
Alternatively, if the market opens with a gap-up, then initially we could expect a 23% to 38% pullback wave. After that, if it rejects there (at 38%), then we can expect correction continuation (meaning the 'C' leg continuation).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.