Hello Traders,
NIFTY50 has made a high at 14753.55 on January 21!
This could be a wave (v) of 5 of (5)! If so, NIFTY50 is ready to decline significantly!
For today’s trading it found support at the 13817.55 area (green line)and built a „doji“!
One possibility for tomorrow should be a gap-up, which would create „evening-star“ a bullish reversal candlestick pattern.
The alternate view suggest a decline with a gap-down to fresh new lows in the coming sessions.
If an impulsive structure has come to an end, one well target is the wave 4 of one lesser degree.
This should be around the purple wave (iv) area from 13093.05-13131.45.
Have a great weekend.....
Ruebennase
Feel free to aks or comment!
Trading this analysis is at your own risk!
NIFTY50 has made a high at 14753.55 on January 21!
This could be a wave (v) of 5 of (5)! If so, NIFTY50 is ready to decline significantly!
For today’s trading it found support at the 13817.55 area (green line)and built a „doji“!
One possibility for tomorrow should be a gap-up, which would create „evening-star“ a bullish reversal candlestick pattern.
The alternate view suggest a decline with a gap-down to fresh new lows in the coming sessions.
If an impulsive structure has come to an end, one well target is the wave 4 of one lesser degree.
This should be around the purple wave (iv) area from 13093.05-13131.45.
Have a great weekend.....
Ruebennase
Feel free to aks or comment!
Trading this analysis is at your own risk!