ruebennase

NIFTY50...End of countertrend advance??

NSE:NIFTY   Nifty 50 Index
Hello Traders,
as of the last analyse N50 is going on to advance and set a new high at this Morning trading @ 10426.50! A/D-Ratio is the third day in a row at 1.08, indicating no exhausting of buying intensity.
The classic Indicators, as there is RSI ; RoC and the VIX             are trading at the upper range of there values, VIX             seems to start to move higher.
At 10439 the lenghth of Wave „C“ is equal to Wave „A“, a common target for the end of a countertrend push within a Wave „C“! At 10478.6 zone a doubletop is possible.
I have labbeld the chart as a possible „w-x-y-x-z“ or it is done at 9951.90 and a fresh advance has started.
On a daily timeframe a „Hanging-Man“ pattern is at a distinctively point at chart and to watch closely! Notice that price has outpaced the rising trendline an tested afterwards to say „Good-by“?
Any contact with the level of 10279.85 will eliminate the bullish variation of the count and complete the countertrend at the upper side!
Be prepared for the unexpected!
Have a great week...
ruebennase

Questions and Comments are welcome! 
Note!---> This analysis can be wrong. It is just in my view the one with the most probabiltity with the Data which are available to me and by my interpretation of the EW Theory. If you trade this it is done by your own risk and decision! Keep that in Mind!!! 

Data by NSEIndia.com and moneycontrol.com! 
Look at alternative....first sub wave ended at 10280, second at 10111 ,third at 10520....to start fourth on Monday...to be followed by fifth upward .....
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@ruebennase What will be the invalidation point for this count?
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ruebennase rsnerella
@rsnerella,
Hi


In a triple zigzag, the first X wave can never travel beyond the start of wave W, and the second X wave can never travel beyond the start of wave Y.
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Perfect Timing!!!! Thanks a lot for the update.
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