Hello Traders,
today NIFTY50 open trading with a gap up and rallyd all day, by showing one of it`s strongest a/d-Ratio=6.2 over the past weeks. NIFTY50 also exceed well above my minimum target at 10155, closed well @ 10168.70! Here a 0.38 RT of the decline from 10409 – 10033 is placed.
VIX is still showing weakness, while RSI and RoC pushed higher, it look to me, we have still more upward pressure to look for.
As long as NIFTY50 is trading above it`s low at 10033.55 the trend is up. Because of no clear wavestructure (impuls/correction) I will not label this move today.
The possibility is given, that todays low finished a wave ((ii)) and a new advance is at forefront or has started within a wave (iii) of 5!
As of yesterday the downside targets are still valid.
Have a great weekend...
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!
today NIFTY50 open trading with a gap up and rallyd all day, by showing one of it`s strongest a/d-Ratio=6.2 over the past weeks. NIFTY50 also exceed well above my minimum target at 10155, closed well @ 10168.70! Here a 0.38 RT of the decline from 10409 – 10033 is placed.
VIX is still showing weakness, while RSI and RoC pushed higher, it look to me, we have still more upward pressure to look for.
As long as NIFTY50 is trading above it`s low at 10033.55 the trend is up. Because of no clear wavestructure (impuls/correction) I will not label this move today.
The possibility is given, that todays low finished a wave ((ii)) and a new advance is at forefront or has started within a wave (iii) of 5!
As of yesterday the downside targets are still valid.
Have a great weekend...
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!