Hello Traders,
NIFTY50 is pushing higher to my target range at 13950-14K area.
A first Fibonacci based target is at 13766.50, which is the 1.618 Extension of wave (i). After it would be achieved, a pullback to the middle line of the trend channel (at 12903 area) could be next.
As you know, a wave for can not touch the high of wave 1. So this would be the MoB (make or break) level for this count.
Only a break of this level would possibly alter the count.
I will update the chart in the coming hours.
Have a great week...
Ruebennase
Feel free to ask or comment.
Trading this analysis is at your own risk!
NIFTY50 is pushing higher to my target range at 13950-14K area.
A first Fibonacci based target is at 13766.50, which is the 1.618 Extension of wave (i). After it would be achieved, a pullback to the middle line of the trend channel (at 12903 area) could be next.
As you know, a wave for can not touch the high of wave 1. So this would be the MoB (make or break) level for this count.
Only a break of this level would possibly alter the count.
I will update the chart in the coming hours.
Have a great week...
Ruebennase
Feel free to ask or comment.
Trading this analysis is at your own risk!