Hello Traders,
The NIFTY50 has reached my first target at the 248xx level. Check out my latest analysis.
The price target is at a wave 4 level of one degree lower. This can be a wave iv or a wave a of iv as I wrote before.
If it was a wave iv, the next move will take the N50 back to a new ATH!
If it was a wave a of iv, the next move should be against the trend and into the retracements. A close of the open gap between 25796.90 and 25452.85 would be a strong sign, but not expected! A possible price range is 25287.50 to 25473.55.
If the N50 falls without any recovery, the 244xx area will come into focus.
That's it for today's quick note. Update will follow after important changes or news.
Have a great week .....
Ruebennase
Please ask or comment if necessary.
Trading based on this analysis is at your own risk.
The NIFTY50 has reached my first target at the 248xx level. Check out my latest analysis.
The price target is at a wave 4 level of one degree lower. This can be a wave iv or a wave a of iv as I wrote before.
If it was a wave iv, the next move will take the N50 back to a new ATH!
If it was a wave a of iv, the next move should be against the trend and into the retracements. A close of the open gap between 25796.90 and 25452.85 would be a strong sign, but not expected! A possible price range is 25287.50 to 25473.55.
If the N50 falls without any recovery, the 244xx area will come into focus.
That's it for today's quick note. Update will follow after important changes or news.
Have a great week .....
Ruebennase
Please ask or comment if necessary.
Trading based on this analysis is at your own risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.