Nifty Analysis for the week starting from 28th October 2024,
Trading Insight:
Buy Trigger: Consider a buy if the 1-hour candle closes above 24,325.
Sell Trigger: Consider a sell if the 1-hour candle closes below 24,070.
Market Overview:
Nifty surged from 23,893 on August 5, 2024, to 26,277 on September 26, 2024, marking a rise of 2,384 points. Following this peak, Nifty has declined to 24,180, breaking all key Fibonacci retracement levels, and is expected to potentially continue falling to the 22,450–22,500 range.
Note: This bearish view would be invalidated if Nifty closes above 25,100 on a daily basis.
Disclaimer: I am not SEBI registered. The above analysis is intended for educational purposes only.
Buy Trigger: Consider a buy if the 1-hour candle closes above 24,325.
Sell Trigger: Consider a sell if the 1-hour candle closes below 24,070.
Market Overview:
Nifty surged from 23,893 on August 5, 2024, to 26,277 on September 26, 2024, marking a rise of 2,384 points. Following this peak, Nifty has declined to 24,180, breaking all key Fibonacci retracement levels, and is expected to potentially continue falling to the 22,450–22,500 range.
Note: This bearish view would be invalidated if Nifty closes above 25,100 on a daily basis.
Disclaimer: I am not SEBI registered. The above analysis is intended for educational purposes only.
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.