Hello Traders,
NIFTY50 has bounced into my cited target-area, I called at my latter analysis. The reaction after showed, that buyers went back tot h floor and bought stocks. But was this low all oft he „crash“?
From a „classic chart analysis“ wee can see a „bullish Engulfing“ the day after the low; this is a typicall rebound/reverse candle. The following two days have seen buying pressure with two „gap-up“ on Wednesday and Thursday. I think that is a good sign fort he market, means buyers have entered the floor with „unlimited orders“, means „market“oders!
After a 1k point rally (open to open basis Tuesday to Thursday) the market is short-term exhausted and needs a little pause in the fresh, new uptrend!
If so to come, the range of 16341-16085 would be a good one!
If N50 is rallyiung on the nest stop could be after a close oft he open gap, left by trading on February 23-24 at 17063.
So, interesting phase to come.
No war! Peace for all!
Have a great Sunday….
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY50 has bounced into my cited target-area, I called at my latter analysis. The reaction after showed, that buyers went back tot h floor and bought stocks. But was this low all oft he „crash“?
From a „classic chart analysis“ wee can see a „bullish Engulfing“ the day after the low; this is a typicall rebound/reverse candle. The following two days have seen buying pressure with two „gap-up“ on Wednesday and Thursday. I think that is a good sign fort he market, means buyers have entered the floor with „unlimited orders“, means „market“oders!
After a 1k point rally (open to open basis Tuesday to Thursday) the market is short-term exhausted and needs a little pause in the fresh, new uptrend!
If so to come, the range of 16341-16085 would be a good one!
If N50 is rallyiung on the nest stop could be after a close oft he open gap, left by trading on February 23-24 at 17063.
So, interesting phase to come.
No war! Peace for all!
Have a great Sunday….
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!