Why Nifty rallied 1000 points today: Elliott Wave predicted the exact bottom [Video]

💡 DMK Insight

Nifty’s recent 1000-point surge from 24,500 could signal the start of a new bull run, but traders need to stay cautious. The Elliott Wave analysis suggesting this rally aligns with broader market trends, particularly the potential impact of the US-India Trade Deal. If this deal strengthens economic ties, it could provide a solid foundation for further gains in Nifty and Bank Nifty. Traders should keep an eye on key resistance levels, as a break above recent highs could confirm bullish momentum. However, it’s worth noting that market sentiment can shift quickly, especially with external factors like inflation or geopolitical tensions. On the flip side, if the rally falters, we could see a quick retracement, so monitoring the 24,500 level is crucial. A drop below this point might trigger profit-taking and shift sentiment back to bearish. For now, the next big targets for Nifty are likely above 25,500, but traders should be prepared for volatility as the market digests these developments.