Hello Traders, NIFTY50 is on path with my forecast. It declined to 17429 on September 19. So, the door is open as I wrote on September 15. The low @ 17429 was a waves a and the countertrend to 17919 was waves b of y of the „double-flat“! In this case, the route is clear to the downside in the coming days. A break of 17429 gives a clear message that N50 is heading lower. A possible target-range is at or around the 17265 area in the coming days. As per an alternate count, I have visualized the idea of a impulse that has started @ 17429. So, for this idea, @ 17429 the pattern has morph into an w-x-y and ended still there. But for this idea, it needs a break of the level @ 18114! The much more likely pattern is nmy favorite one. The double-flat! Be patient these days! Have a great week..... Ruebennase
Feel free to ask or comment! Trading this analysis is at your own risk!