Hello Traders,
N50 has decided to follow the bullish version as of my last analyse! Today @10856.55 (.11 pips) above my targetarea the high was set. He also exceed to the upper KC-Line, which is strong rising and A/D-Ratio is really strong as of the last sessions, indicating a wave 3 has started!
Bullish outlook:
A possible shortterm correction is every time what to expect, declining to the upper (@10833.22) or the middle KC-Line (@10777.55)! More bearish potencial shortterm exist!
While the last move up from the wave 4 low @10709.5 is not clear a 5-move pattern, it is well that one more down-up-sequence is next. After a top above 10856.55 the correction could be next!
If N50 will exceed up to |10905 (1.618 of wave a), with a high Volume and a solid close above this level the correction can be done, to my view!
Bearish view:
The move to todays high @10856.55 is looking corretive, showing overlapping waves! Price penetrate the upper, rising trendline (red) several times, make this resistance more important, as often it is tested! At 10853.77, the 1.38 FibExt of wave a is placed.
If N50 will exceed up to |10905 (1.618 of wave a), with a high Volume and a solid close above this level the correction can be done, to my view!
So if N50 start to decline tomorrow right at the opening bell a wave „c“ down is possible to start! A target surround well below the low oat 10419.20!
Right now the odds are not clear, but I like to favor that a new bullphase has started, up in a impulse wave!
The trending Index at India, the NIFTY IT, is working on it`s breakout to an declining trendline (see extra chart) and if this breakout is succesful, the correction in India is close to an End (to my view)!
Have a great time...
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!
N50 has decided to follow the bullish version as of my last analyse! Today @10856.55 (.11 pips) above my targetarea the high was set. He also exceed to the upper KC-Line, which is strong rising and A/D-Ratio is really strong as of the last sessions, indicating a wave 3 has started!
Bullish outlook:
A possible shortterm correction is every time what to expect, declining to the upper (@10833.22) or the middle KC-Line (@10777.55)! More bearish potencial shortterm exist!
While the last move up from the wave 4 low @10709.5 is not clear a 5-move pattern, it is well that one more down-up-sequence is next. After a top above 10856.55 the correction could be next!
If N50 will exceed up to |10905 (1.618 of wave a), with a high Volume and a solid close above this level the correction can be done, to my view!
Bearish view:
The move to todays high @10856.55 is looking corretive, showing overlapping waves! Price penetrate the upper, rising trendline (red) several times, make this resistance more important, as often it is tested! At 10853.77, the 1.38 FibExt of wave a is placed.
If N50 will exceed up to |10905 (1.618 of wave a), with a high Volume and a solid close above this level the correction can be done, to my view!
So if N50 start to decline tomorrow right at the opening bell a wave „c“ down is possible to start! A target surround well below the low oat 10419.20!
Right now the odds are not clear, but I like to favor that a new bullphase has started, up in a impulse wave!
The trending Index at India, the NIFTY IT, is working on it`s breakout to an declining trendline (see extra chart) and if this breakout is succesful, the correction in India is close to an End (to my view)!
Have a great time...
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!