#Nifty directions and levels for February 2nd.
#Nifty
Good morning, friends. As of February 2nd, the global market sentiment is moderately bullish, supported by the Dow Jones. However, our local market sentiment also shows a moderately bullish trend. It might open with a gap-up start based on Giftnifty, which shows +170.
Nifty has a consolidation structure, so as per the structure, if the consolidation breaks, then we can expect a strong rally continuation. We can anticipate a move up to 78% to SZ(21012).
Alternatively, if the market doesn't reach 78% with a solid structure, then it might turn into correction when it reaches 78%. Because if the market reaches there with consolidation, it might be in the 5th diagonal wave. So once the 5th wave completes, it will turn into a correctional wave.
Good morning, friends. As of February 2nd, the global market sentiment is moderately bullish, supported by the Dow Jones. However, our local market sentiment also shows a moderately bullish trend. It might open with a gap-up start based on Giftnifty, which shows +170.
Nifty has a consolidation structure, so as per the structure, if the consolidation breaks, then we can expect a strong rally continuation. We can anticipate a move up to 78% to SZ(21012).
Alternatively, if the market doesn't reach 78% with a solid structure, then it might turn into correction when it reaches 78%. Because if the market reaches there with consolidation, it might be in the 5th diagonal wave. So once the 5th wave completes, it will turn into a correctional wave.
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