#Nifty directions and levels for January 27th:

Good Morning, friends! 🌞

Here are the market directions and levels for January 27th:

Market Overview:

There have been no significant changes in the global markets, which are still maintaining a bullish sentiment (based on the Dow Jones). However, our local market is showing a bearish sentiment.

> The Nifty is showing a long gap-down start. If this sustains, structurally, we can expect the correction to continue with some minor pullbacks. Based on the wave structure, this long gap-down could extend into the 3rd sub-wave of the correction. Typically, the 3rd wave is the longest leg of an impulse, so we can expect a prolonged correction. This is the structural sentiment.

> On the other hand, the budget announcement is just a few days away, and experts are expecting high volatility. This means there is no clear direction—if the market goes down, it could recover at any point, and if it goes up, it may eventually reverse. Therefore, the sentiment is a bit difficult to predict.

In light of this, we can apply a simple trading method:

> as long as the 38% Fibonacci level in the minor swing holds, the correction is likely to continue in the current direction. If this level breaks, we can expect a reversal.

This is just my opinion based on my limited experience. If you have any better ideas, please share them with me so we can discuss them in this community.

However, all the chart structures are based on Elliott Wave theory and Fibonacci levels that we regularly update, so you can follow them without any doubts. Have a nice day!