Hello Traders,
NIFTY50 extended his countertrend move to 17794.60! Here it reversed and may finish a wave (b)!
While more opportunities exist, I will show them in detail!
First. It is possible that the correction is done, and has developed as a w-x-y! In this case, 16638 was wave „y“ and the move since is part of wave 1! So, the coming days will bring more gains to N50!
Second.
It could be, that N50 is on track to lower lows within a wave c of 4, that possibly will end @ or around 141xx – 15000 area in the coming week! Here, it would meet a wave 4 of lower degree.
Third.
If N50 is developing within a triangle, we have seen waves a-b-c, and we are on track to develop within waves d and e. If so to come, a quick and sharp reversal should occur to the upside after waves e is done! Triangles are always part of a wave's b, x or y!
As you will notice, multiple variation exist, and I will update the count, if there are more facts to one or the other opportunity!
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY50 extended his countertrend move to 17794.60! Here it reversed and may finish a wave (b)!
While more opportunities exist, I will show them in detail!
First. It is possible that the correction is done, and has developed as a w-x-y! In this case, 16638 was wave „y“ and the move since is part of wave 1! So, the coming days will bring more gains to N50!
Second.
It could be, that N50 is on track to lower lows within a wave c of 4, that possibly will end @ or around 141xx – 15000 area in the coming week! Here, it would meet a wave 4 of lower degree.
Third.
If N50 is developing within a triangle, we have seen waves a-b-c, and we are on track to develop within waves d and e. If so to come, a quick and sharp reversal should occur to the upside after waves e is done! Triangles are always part of a wave's b, x or y!
As you will notice, multiple variation exist, and I will update the count, if there are more facts to one or the other opportunity!
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!