#Nifty directions and levels for JAN 30th

29 thg 1, 2024

Nifty has a solid pullback structure. So, if the market opens with a gap-up, then we can expect further rally continuation. After that, if the rally rejects around the supply zone or 21917, then the following correction may take a 23 to 38% Fibonacci correction. Structurally, it might be in the 4th phase, so after that, if it takes support around there, then we can expect the 5th pullback wave. However, this sentiment will be applicable for a gap-down opening. After the gap-down, the market may correct a maximum of 23 to 38%. Also, we assume it may be the 4th structurally. After that, if it takes support around there, then we can expect the 5th pullback wave