ruebennase

NIFTY50/NIFTY Bank...no clear wave structure!

NSE:NIFTY   Nifty 50 Index
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2
213 10
Hello Traders,
to be honest...it is very heavy to count NIFTY 50 or Bank Nifty in each timeframe this days.
Shortterm (20 min chart) the odds are really great that NIFTY50 will decline in a wave (c) of 4 within a flat pattern to ~ 10600 zone, and thereafter with a strong reversal moving up to new ATH`s!
Notice that after completing a flat-pattern (one typical pattern within a wave 4) a strong move to the upside is the message this pattern cary in itself! After this possible move to the upside a decline to ~ 10600 zone is a first possible target for the correction!

The same is true for NIFTY Bank! Follow the link below these words...
While the odds are not clear I will not label this move as there is more confidence in the pattern of which direction the next move is to look for!
I have left a blue impulsive idea that endet Monday after election vote, since than NIFTY Bank is in a corrective phase which is not already done (no impulsive structure to my view) or .....???
With leading indexes at US Markets (Monday is closed for Martin Luther King Day) it is very taff to call new ATH`s for Indian Indexes while on the other hand US Markets will end it`s longest trendphase since many years! But it is true.
Long term the chance is great that specially India Markets will lead the next step of advance at Asia Markets.
Have a great time....
ruebennase

Feel free to comment or ask your questions!

surpassed 10780. Seems BankNifty going as per plan. Any further updates?
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ruebennase rsnerella
@rsnerella, later that day...
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rsnerella ruebennase
@ruebennase, Thanks, What will be the alternate count if Nifty surpass the orange lines?
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ruebennase rsnerella
@rsnerella,
Hi, I think an impulsiv move. Wave 3 of of 3 o 5 possible!
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rsnerella ruebennase
@ruebennase, Awesome move going on... so far going good....
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Would Wave (A) have begun?
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ruebennase dheerajsood
@dheerajsood,
may on lesser degree, yes.
Regards
Read my new analyse now!
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in your view nifty rally can continue.. Upto10800 this month
Reply
ruebennase chandu9966
@chandu9966,
Hello....today. Never thought this target so fast to achieve!
Regards
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Thanks for the update.
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