NIFTY 50 — Fibonacci + Elliott Wave OutlookNifty 50 IndexNSE:NIFTYAK_InvesTradeNIFTY is currently correcting from 24,774 and has entered an important Fibonacci support zone between the 50% retracement at 24,192 and the 61.8% retracement near 24,054. From an Elliott Wave perspective, this decline may represent Wave B/Wave 2, with the 24,050–24,150 zone serving as a potential reversal zone. My Current Outlook Bullish scenario: If NIFTY holds above 24,050 and shows a strong reversal, the next upside levels to watch are: 24,330 24,500 24,774 25,200–25,250 if the previous high breaks A sustained breakout above 24,774 could confirm the beginning of a stronger Wave C / Wave 3 advance. Bearish scenario:If 24,050 fails decisively, the correction may extend toward the 78.6% Fibonacci level near 23,857. A break below 23,606 would invalidate the current bullish Elliott Wave structure. Prediction For now, 24,050–24,150 is the key decision zone. If buyers defend it, I expect a recovery toward 24,500 first, followed by a possible retest of 24,774. Above that, 25,200+ becomes the next major target. Educational analysis only — not a buy or sell recommendation.