Hello Traders,
today N50 made a new low at 10550.90, the 1.382 Ext of Wave a. This is a common target for a Wave „c“ in an „Exp. Flat“, which Wave ii took the shape off! It also determine at the price territory of a Wave 4 of lesser degree.
A/D-Ratio was weak at .61 today, TRIN closed at .74 today, which indicate a more bullish Day, and it is diverging to the price.
On lower timeframe it is possible to count the „c“ Wave as done, but it is not certain. So be not surprised if one more down-up sequence is next to occur to complete the move. After that, if it happen, a strong move to the upside, the „3 of a 3“ is next to occur. This is usally accompied by strong buying pressure and a increasing Volume at least for some Days or so.
The alternate interpretaion is that a more complex structure is to develop. For this opportunity I need more facts to judge for!
Have a great Day...
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 N50 made a new low at 10550.90, the 1.382 Ext of Wave a. This is a common target for a Wave „c“ in an „Exp. Flat“, which Wave ii took the shape off! It also determine at the price territory of a Wave 4 of lesser degree.
A/D-Ratio was weak at .61 today, TRIN closed at .74 today, which indicate a more bullish Day, and it is diverging to the price.
On lower timeframe it is possible to count the „c“ Wave as done, but it is not certain. So be not surprised if one more down-up sequence is next to occur to complete the move. After that, if it happen, a strong move to the upside, the „3 of a 3“ is next to occur. This is usally accompied by strong buying pressure and a increasing Volume at least for some Days or so.
The alternate interpretaion is that a more complex structure is to develop. For this opportunity I need more facts to judge for!
Have a great Day...
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!