Nifty Price Prediction for Tomorrow (18 Nov 2024)
The Nifty 50 index appears poised to enter a corrective phase, resembling a zigzag correction. This suggests that the index may retrace its previous upward run in a structured manner, as is normal in Elliott Wave Theory during such periods. If all counts are accurate, a bullish impulse wave might follow this corrective wave, restarting the primary uptrend. However, there is also the chance of a more complex correction, in which the market exhibits irregular or protracted wave patterns before making its next significant move.
Above all else, the Nifty 50 index may see selling pressure in the zones marked by important resistance levels around 23,670 and 23,770. After the end of the corrective phase, the market may experience another negative move, possibly a falling impulse wave. If the present wave count is correct, this decline may confirm the bigger wave structure and give further information. If the counts don’t match, the projections are incorrect.
Disclaimer
This post is just for informative purposes and does not constitute financial advice. Trading and investing involve risk, and past performance does not guarantee future results. Before making an investing or trading choice, readers should undertake their own research and evaluate their own circumstances. The author and platform accept no responsibility for any financial losses or damages stemming from the use of this material. Receive personalized advice from a qualified financial advisor.
