NIFTY 50....Extending higher!

NSE:NIFTY   Nifty 50 Index
Hello Traders,
NIFT50 has risen into my bullish price territory; it closed @ 18255.75 on Friday.
So, it could be that the wave v (gray) of iii (green) was done, and a short setback is next.
Short term, it is important to stay above the latter possible wave iv range from 177987-17655.
Corrections often pull back into the range of a wave iv of one lesser degree!
A break of this area could bring N50 sharply lower.

If N50 is able to stay at or above the 18134 are, the door should be open to attack the latter ATH @ 18604. A break of this area can push to 19k in a first move!
My view is mixed; and many will depend on the behavior of US markets.
On Monday, there is holiday in US (---> Martin Luther King day)!

Have a great week


Feel free to ask or comment!
Trading this analysis is at your own risk!


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