Hello Traders,
Since my analysis on November 12th, the NIFTY50 has advanced to 19732 on a closing basis! There was one open target left @ 19849! It was reached but only by a spike. I would like to see this level reached on a closing basis, best on an hourly basis, even better on a daily basis!
If the N50 extends above this area, the door could be open to the ATH @ 20222 area in the coming days, probably two weeks!
If N50 shows weakness, a close of the open gap from 19651 to 19443 would fit well into a corrective move. After that, we need to check the pattern for more information!
Since October 27th, the NIFTY50 has been higher on 10 out of 21 days. I think there is more fuel left to fuel the advance.
But keep in mind! A break of 19849, the possible wave ((B)) high on October 23rd is needed to reach higher price areas!
I have marked the pattern since October 27th as one of many counting ideas! The NIFTY50 is in a bull market, so are we! Note the bearish count idea.
Have a great week.....
Ruebennase
Please ask or comment as needed.
Trading based on this analysis is at your own risk.
Since my analysis on November 12th, the NIFTY50 has advanced to 19732 on a closing basis! There was one open target left @ 19849! It was reached but only by a spike. I would like to see this level reached on a closing basis, best on an hourly basis, even better on a daily basis!
If the N50 extends above this area, the door could be open to the ATH @ 20222 area in the coming days, probably two weeks!
If N50 shows weakness, a close of the open gap from 19651 to 19443 would fit well into a corrective move. After that, we need to check the pattern for more information!
Since October 27th, the NIFTY50 has been higher on 10 out of 21 days. I think there is more fuel left to fuel the advance.
But keep in mind! A break of 19849, the possible wave ((B)) high on October 23rd is needed to reach higher price areas!
I have marked the pattern since October 27th as one of many counting ideas! The NIFTY50 is in a bull market, so are we! Note the bearish count idea.
Have a great week.....
Ruebennase
Please ask or comment as needed.
Trading based on this analysis is at your own risk.