Hello Traders,
NIFTY50 has made a new ATH @ 21928.25 again on Friday 12! This was inline with my forecast.
Bullish view!
Probably, there is a "breakout" underway, that includes a push above the upper boundary of the trend channel (blue line)! My measured target, if so to come, is at or around the 22168 area!
This move should be part of a wave 5 of (3)!
Sideways view!
If N50 failed to break above the upper trend line (black) and falls back into the box, a test of the lower boundary could be next. This level is @ 21500 zone, and could be part of a wave 4 sideways consolidation!
More bearish potential is at hand, and the range for this view is @ or around 21031 area!
Yet, it is to early to call this decline.
It needs a decline below the latest low @ 21448 (January 10th) to activate the lower targets!
Have a great weekend.....
Ruebennnase
Please ask or comment as needed.
Trading based on this analysis is at your own risk.
NIFTY50 has made a new ATH @ 21928.25 again on Friday 12! This was inline with my forecast.
Bullish view!
Probably, there is a "breakout" underway, that includes a push above the upper boundary of the trend channel (blue line)! My measured target, if so to come, is at or around the 22168 area!
This move should be part of a wave 5 of (3)!
Sideways view!
If N50 failed to break above the upper trend line (black) and falls back into the box, a test of the lower boundary could be next. This level is @ 21500 zone, and could be part of a wave 4 sideways consolidation!
More bearish potential is at hand, and the range for this view is @ or around 21031 area!
Yet, it is to early to call this decline.
It needs a decline below the latest low @ 21448 (January 10th) to activate the lower targets!
Have a great weekend.....
Ruebennnase
Please ask or comment as needed.
Trading based on this analysis is at your own risk.