Hello Traders,
NIFTY50 has advance to a new high today (@ 11871.60 and achieved the cited target @ 11843 as of my last analyze.
This move to new highs and the pullback to 11651 before, that not dropped below the low @ the wave „5“ of (c), make the odds high, that we are running in a series of „one`s and two`s“ within a wave „3“ of one higher degree.
The alternate view is a possible „A-B-C“ countertrend move, that is done or close to do so. For the latter case, it would mean that NIFTY50 will decline to new lows below the wave (c) low @ 11625.20.
The bullish view implies a fresh new impulse to new highs with a target range well above the wave „1“ high at 12103!
Have a great day...
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!
NIFTY50 has advance to a new high today (@ 11871.60 and achieved the cited target @ 11843 as of my last analyze.
This move to new highs and the pullback to 11651 before, that not dropped below the low @ the wave „5“ of (c), make the odds high, that we are running in a series of „one`s and two`s“ within a wave „3“ of one higher degree.
The alternate view is a possible „A-B-C“ countertrend move, that is done or close to do so. For the latter case, it would mean that NIFTY50 will decline to new lows below the wave (c) low @ 11625.20.
The bullish view implies a fresh new impulse to new highs with a target range well above the wave „1“ high at 12103!
Have a great day...
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!