Hello Traders,
today NIFTY50 opem with a gap-down @ 19637 (low @ 19554), but reversed to close the day @ 19716!
From an technical perpective aBuy-signal occurs; a "bullish Engulfing", even mor a "hammer-candle. No matter which of this one it was, a buy-signal is a buy-ignal.
So chance is given that N50 will rise probably for the reminder of the week. But keep in mind, as per my superior count, it just could morph into a wave 2 (wave one was done today), and a wave 3 down to follow. It also could morph into a wave a-b (in progress?) of a w-x-y pattern.
Different opportunities always make it difficult to give a precise count (idea).
Anyway! Optiontraders use the low of today`s candle as a "stopp-loss" level or place a "start-sell" order.
That`s it for a quick note today.
Have a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your decision!
today NIFTY50 opem with a gap-down @ 19637 (low @ 19554), but reversed to close the day @ 19716!
From an technical perpective aBuy-signal occurs; a "bullish Engulfing", even mor a "hammer-candle. No matter which of this one it was, a buy-signal is a buy-ignal.
So chance is given that N50 will rise probably for the reminder of the week. But keep in mind, as per my superior count, it just could morph into a wave 2 (wave one was done today), and a wave 3 down to follow. It also could morph into a wave a-b (in progress?) of a w-x-y pattern.
Different opportunities always make it difficult to give a precise count (idea).
Anyway! Optiontraders use the low of today`s candle as a "stopp-loss" level or place a "start-sell" order.
That`s it for a quick note today.
Have a great week.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your decision!