Hello Traders,
NIFTY50 closed the week @ 16245! Monday`s open start with as gap-down and bears toke control.
What`s next for India stock market?
The decline from 18604 stopped at 16410, a wave 2 low of lesser degree. The following rebound to 18350.95 was a wave (x) and the running decline i spart of wave c of (y)? For now, the lenght of waves c=a! But at 15852 the 0.618 Fib-retracement is „calling“! If so to come, N50 would dip into the price-range oft he 1.382 Fib-Extension-level @ 15428!
So, this are my price areas fort he coming 1-2 days.
Recall the idea oft he „triangle“!
If trhis pattern is underway, the close this week could be a wave © and a rebound within a wave (d) is next to expect! A price-level for this scenario is difficult to call, but I guess at or around the 17500-18000 is a“realistic“ call!
With the failed „Blitz-Krieg“ that the Russian leader directed, rules and laws are off the table. Everything could happen! Incalculable!
I recommend sideline for the coming days, maybe weeks.
This is the time, where accounts and deposits are ruined!!
Have a great and safe weekend!
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY50 closed the week @ 16245! Monday`s open start with as gap-down and bears toke control.
What`s next for India stock market?
The decline from 18604 stopped at 16410, a wave 2 low of lesser degree. The following rebound to 18350.95 was a wave (x) and the running decline i spart of wave c of (y)? For now, the lenght of waves c=a! But at 15852 the 0.618 Fib-retracement is „calling“! If so to come, N50 would dip into the price-range oft he 1.382 Fib-Extension-level @ 15428!
So, this are my price areas fort he coming 1-2 days.
Recall the idea oft he „triangle“!
If trhis pattern is underway, the close this week could be a wave © and a rebound within a wave (d) is next to expect! A price-level for this scenario is difficult to call, but I guess at or around the 17500-18000 is a“realistic“ call!
With the failed „Blitz-Krieg“ that the Russian leader directed, rules and laws are off the table. Everything could happen! Incalculable!
I recommend sideline for the coming days, maybe weeks.
This is the time, where accounts and deposits are ruined!!
Have a great and safe weekend!
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!