Hello Traders,
NIFTY50 is moving sideways, within a range from 17992 to 17166.
The count seams to be less clear as possible.
Either, we are moving within a wave b/x with waves c/y to come to the downside. Or waves c of iv was done @17166, and N50 is on the edge to new ATH`s in the coming days and weeks ahead!
To play the idea of a new ATH, N50 must extend higher and top the latter high @18114 from April 4!
A break of 17484 on a daily close, opens the door to 17166, with more bearish potential ahead!
For short, the situation is not clear, and I guess, to step at sideline to wait for clearer odds could be a good idea.
I will update the count when the pattern shows the direction!
Have a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY50 is moving sideways, within a range from 17992 to 17166.
The count seams to be less clear as possible.
Either, we are moving within a wave b/x with waves c/y to come to the downside. Or waves c of iv was done @17166, and N50 is on the edge to new ATH`s in the coming days and weeks ahead!
To play the idea of a new ATH, N50 must extend higher and top the latter high @18114 from April 4!
A break of 17484 on a daily close, opens the door to 17166, with more bearish potential ahead!
For short, the situation is not clear, and I guess, to step at sideline to wait for clearer odds could be a good idea.
I will update the count when the pattern shows the direction!
Have a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!