NIFTY50... Would will you do with the drunken Sailor?
Hello Traders,
sometimes forecast work well out, sometimes not! This is the fact we have to live with. It is also a fact that every analyse is just the match to find the one with the highest probability from the perspective of the analyst.
Keep that in Mind!
Quick forecast:
The keylevels shortterm are @10818 to the upside and 10709 (which is the .382 RT of the decline from 10550-10818) to the downisde. The correction is not done to the downside from my view and there remain an open target area from 10684-10652. Exceeding the 10818 will increase the odds that a wave 3 of higher degree has started!
Detailed explanation:
Bullish view (right chart):
As of my last analyse from June 7, I have labeld the pattern as a complete 5-wave advance (@10717) with a following a-b-c correction for a wave (ii) (@10550.9), took the form of an „Expanding Flat“!
The advance from 10550.90- 10818 is a 1-2-3, make the current pullback to 10709.5 a wave „iv“ of „(1) of 3“ or it still to develop into a complex pattern, perhaps a Triangle or, more simple, a Flat! If a wave 4 is done, an open target is at 10586.44 as of this analyse!
Alternate view (left chart):
One alternate outlook is, that at 10770.3 wave (v) of i was done, at 10550.9 wave „a“ of ii, @ 10818 wave „b“ of ii and a „c-wave“ is in progress to ~10522!
ore bearish potential exixst as did more opportunitys!
So, the overall pattern are open to different interpretation and as always, it will be interesting how Traders will solve this situation!
Have a great Week....
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!
sometimes forecast work well out, sometimes not! This is the fact we have to live with. It is also a fact that every analyse is just the match to find the one with the highest probability from the perspective of the analyst.
Keep that in Mind!
Quick forecast:
The keylevels shortterm are @10818 to the upside and 10709 (which is the .382 RT of the decline from 10550-10818) to the downisde. The correction is not done to the downside from my view and there remain an open target area from 10684-10652. Exceeding the 10818 will increase the odds that a wave 3 of higher degree has started!
Detailed explanation:
Bullish view (right chart):
As of my last analyse from June 7, I have labeld the pattern as a complete 5-wave advance (@10717) with a following a-b-c correction for a wave (ii) (@10550.9), took the form of an „Expanding Flat“!
The advance from 10550.90- 10818 is a 1-2-3, make the current pullback to 10709.5 a wave „iv“ of „(1) of 3“ or it still to develop into a complex pattern, perhaps a Triangle or, more simple, a Flat! If a wave 4 is done, an open target is at 10586.44 as of this analyse!
Alternate view (left chart):
One alternate outlook is, that at 10770.3 wave (v) of i was done, at 10550.9 wave „a“ of ii, @ 10818 wave „b“ of ii and a „c-wave“ is in progress to ~10522!
ore bearish potential exixst as did more opportunitys!
So, the overall pattern are open to different interpretation and as always, it will be interesting how Traders will solve this situation!
Have a great Week....
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!