Fibonacci Cycle Analysis | 22000 - 21700 SupportNifty 50 IndexNSE_DLY:NIFTYswarupkumarguchhaitNIFTY Fibonacci-Based Market Cycle Analysis NIFTY made a high near 24,773, followed by a correction. Based on my Fibonacci market-cycle analysis and previous price structure, I expect this correction to continue toward the 21,800–21,724 support zone. The 21,724 level is a key support level in this analysis, as previous price action shows multiple support structures around this area. My Primary Scenario: If NIFTY holds the 21,724 support zone, I expect price to take support and bounce upward. My primary expectation is: 24,773 High → Correction → 21,800–21,724 Support → Bounce → Retest High If the support holds, I expect price to potentially move back toward the previous high near 24,773. Alternative Scenario: If NIFTY decisively breaks below 21,724, the current support structure would be considered weakened. In that case, the next important downside zone I am watching is approximately 18,000–18,500. Therefore, 21,724 is the key level to watch. This is my personal technical analysis based on Fibonacci structure, market cycles and historical price action. It is a market projection, not a guaranteed prediction or financial advice.