Hello Traders,
at the end of latter week, we had the same price level as now! So, a "non-event-week" passing by, and the question is:"was this all of the advance, and bears will take over the market?
NIFTY50 has run to my cited price area as I mentioned since many analyses. The high @ 18267 could be all of it, and a corrective setback, that will retrace a good portion of the advance, could be next!
A decline below 17950 could be a starting point for this scenario and open the door to 17863-175xx range. Here a wave (iv) of one lower wave-degree was counted! More bearish potential exist!
An alternate view for the count could be, that we have seen a double 1-2 in progress, means the green wave (iii) and (iv) was another waves i and ii! In this case, the bulls will push the market to much higher levels as seen before!
For this idea, I need to see more evidence as volume, gap-up`s and a series of advancing days at the next 1–2 weeks!
For now, you are prepared for what could be next!
Stay tuned, and have a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
at the end of latter week, we had the same price level as now! So, a "non-event-week" passing by, and the question is:"was this all of the advance, and bears will take over the market?
NIFTY50 has run to my cited price area as I mentioned since many analyses. The high @ 18267 could be all of it, and a corrective setback, that will retrace a good portion of the advance, could be next!
A decline below 17950 could be a starting point for this scenario and open the door to 17863-175xx range. Here a wave (iv) of one lower wave-degree was counted! More bearish potential exist!
An alternate view for the count could be, that we have seen a double 1-2 in progress, means the green wave (iii) and (iv) was another waves i and ii! In this case, the bulls will push the market to much higher levels as seen before!
For this idea, I need to see more evidence as volume, gap-up`s and a series of advancing days at the next 1–2 weeks!
For now, you are prepared for what could be next!
Stay tuned, and have a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!