Hello Traders,
as I wrote yesterday the Nifty made it`s top today at 9947.8 after pushing at opnening bell a bit higher than last close price.
The overall look at 15 min chart today look more than a sideways move, but be overall pattern looks like a gap down for tomorrow.
The first move down today endet at 9884.50 after than a pull back to 9939.20 and close the day at 9883.75! The Indication by NIFTY Fut is about at 9869 which implies a Gap down tomorrow and this will meet a Wave "4" of lesser degree at 9846. So the odds are to favor that the decline is still on the way with lower targets ahead.
I´m not right sure about the odds but I favor a wave 3 decline of Wave c or an a-b-c pattern which will complete a Wave "a" of higher degree and after a pullback in Wave "b" a new decline in a Wave "c!"
The short term view is downside with targets around the 9875 at minimum!
Have a geat evening
rubennase
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 the EW Theory. If you trade this it is done by your own risk and decision! Keep that in Mind!!!!
as I wrote yesterday the Nifty made it`s top today at 9947.8 after pushing at opnening bell a bit higher than last close price.
The overall look at 15 min chart today look more than a sideways move, but be overall pattern looks like a gap down for tomorrow.
The first move down today endet at 9884.50 after than a pull back to 9939.20 and close the day at 9883.75! The Indication by NIFTY Fut is about at 9869 which implies a Gap down tomorrow and this will meet a Wave "4" of lesser degree at 9846. So the odds are to favor that the decline is still on the way with lower targets ahead.
I´m not right sure about the odds but I favor a wave 3 decline of Wave c or an a-b-c pattern which will complete a Wave "a" of higher degree and after a pullback in Wave "b" a new decline in a Wave "c!"
The short term view is downside with targets around the 9875 at minimum!
Have a geat evening
rubennase
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 the EW Theory. If you trade this it is done by your own risk and decision! Keep that in Mind!!!!
an error has occured!
The target is at 9685! Not at 9875!
Sorry for that...
Good night...