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.
Penafian
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