Nifty Price Prediction for Tomorrow (02 Dec 2024)
Nifty-50: Signs of Correction in a Short Timeframe
In shorter periods, the Nifty 50 seems to be having a corrective phase. Before this, the index followed an Elliott Wave corrective pattern that looked like a three-wave rally. Another downside impulse wave may now develop, signaling that the larger slump will continue. If the present correction has ended, we may see the emergence of a smaller-scale motive wave. This motive wave may open the way for more directional movement, depending on how the market develops in the short future.
NIFTY 50 / 5 MIN
Price Prediction and Key Support Levels
If the wave counts stay intact, the Nifty 50 price prediction for tomorrow points to a downturn. On the downside, 23,800 and 23,700 are important support levels that can provide the market with a short-term break. However, if the price reaches the previous high, it will invalidate the current wave counts, signaling a likely shift in market dynamics.
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.
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