Hello Traders,
my latter analysis worked out! NIFTY50 declined into my cited target range (@ 19236), but failed my target-zone for 17 points! This could be all of the decline for the coming days. But overall to speak; I guess the correction was too short in terms of time to be done!
If my idea plays out, we will see a recovery for N50 and one first target is around the 19485. If this level were taken off the market, the next target area is around 19627 area. This level marks a possible wave x² of the w-x-y-x-z-pattern; i have illustrated at the chart!
On one higher degree, this pattern would fit well the idea of a wave 4 (above 19253.60)! So, the next advance should push N50 to new ATH`s!
On the other hand! Further weakness for N50 will bring the possibility for a hard but short "crash" with enormous losses, but a quick recovery thereafter! My cited targets for this scenario are still valid, as I wrote in my latter analysis!
These levels are to watch at the red rectangle at chart and ranges from current levels down to 18651 area!
Be careful these days and don't hold options overnight or over weekend!
So, have a great weekend.
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
my latter analysis worked out! NIFTY50 declined into my cited target range (@ 19236), but failed my target-zone for 17 points! This could be all of the decline for the coming days. But overall to speak; I guess the correction was too short in terms of time to be done!
If my idea plays out, we will see a recovery for N50 and one first target is around the 19485. If this level were taken off the market, the next target area is around 19627 area. This level marks a possible wave x² of the w-x-y-x-z-pattern; i have illustrated at the chart!
On one higher degree, this pattern would fit well the idea of a wave 4 (above 19253.60)! So, the next advance should push N50 to new ATH`s!
On the other hand! Further weakness for N50 will bring the possibility for a hard but short "crash" with enormous losses, but a quick recovery thereafter! My cited targets for this scenario are still valid, as I wrote in my latter analysis!
These levels are to watch at the red rectangle at chart and ranges from current levels down to 18651 area!
Be careful these days and don't hold options overnight or over weekend!
So, have a great weekend.
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!