Nifty has been in correction mode since 27th Sep 2024. The correction did complete 61.8% as shown in fib level.
For any correction 61.8% is very important level if it breaks then only we will see more correction going forward. Nifty has been around the level for couple of days and holding it.
We can also see the correction channel and the triangular formation of last wave of wave c.
Nifty will be looking forward to change the trend anytime sooner and the confirmation of this will start once it breaks above support zone.
Initial target will be the high of wave B.
Stay safe and trade safe.
Note: View shared for educational purpose only.
For any correction 61.8% is very important level if it breaks then only we will see more correction going forward. Nifty has been around the level for couple of days and holding it.
We can also see the correction channel and the triangular formation of last wave of wave c.
Nifty will be looking forward to change the trend anytime sooner and the confirmation of this will start once it breaks above support zone.
Initial target will be the high of wave B.
Stay safe and trade safe.
Note: View shared for educational purpose only.
Trade active
Hi All,SL for the bullish view is 22750 and I am still bullish on Nifty...
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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.