Hello Traders,
NIFTY50 has extended the gains to 17428 today, closing price was @ 17334. The pattern make a wave 4 less probably, `cause the wave 1 low is just 1 point away!
So, the odds do rise, that @ 16747 a waves ((c)) of iv was done.
From my point of view, I still remain a little skeptical if this was all to the downside.
N50 should rise to 17469 area, where it will touch the 1.382 Fib.-Extension of the first leg; 17576 is also available!
A close of the open gap, left by trading on October 4-6 should not surprise. Only a close of the second open gap from16876-17129 on October 3-4 will weaken the bulls.
Anyway! We should see, what's next for India's index.
Have a great Friday.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY50 has extended the gains to 17428 today, closing price was @ 17334. The pattern make a wave 4 less probably, `cause the wave 1 low is just 1 point away!
So, the odds do rise, that @ 16747 a waves ((c)) of iv was done.
From my point of view, I still remain a little skeptical if this was all to the downside.
N50 should rise to 17469 area, where it will touch the 1.382 Fib.-Extension of the first leg; 17576 is also available!
A close of the open gap, left by trading on October 4-6 should not surprise. Only a close of the second open gap from16876-17129 on October 3-4 will weaken the bulls.
Anyway! We should see, what's next for India's index.
Have a great Friday.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!