Neither sentence is more correct than the other, much depends upon the message, the emotions, the atmosphere or the scene etc that you are trying to describe or conjure up in the readers mind.
The second sentence is rather more for poetry and literature or describing a vista, panoramic view or something like that.
The first sentence is more for describing a light that is magic (can also mean magical when spoken). In current English writing we usually make the difference known with a hyphenated word "magic-light" or "magical-light" instead of "magic Light"
Post this same question onto a busy popular English language forum and nobody will agree . This is why the full context should always be posted.