Hello Traders,
next Index is looking toppy with the NIFTY50! Today the NIFTY50 set a new high at 10114 this morning. At 10066.46 wave 1 (circle) had equal Wave 1 Minor. Also the Gap that occurs at the opening session was closed by the end of trading and look like an "Exhausting Gap"! And one more detail comes into play, as the price move back in its trendchannel from which it shows a "Thrust" at the morning bell. A close in the trendchannel and under the level of 10K will indicate that a top is in place (in my view)! Any move about the 10114 will show us an extension of wave 5 (circle--> subminuette) but I would not change my position about a topp in place!
Have a great day
rubennase
next Index is looking toppy with the NIFTY50! Today the NIFTY50 set a new high at 10114 this morning. At 10066.46 wave 1 (circle) had equal Wave 1 Minor. Also the Gap that occurs at the opening session was closed by the end of trading and look like an "Exhausting Gap"! And one more detail comes into play, as the price move back in its trendchannel from which it shows a "Thrust" at the morning bell. A close in the trendchannel and under the level of 10K will indicate that a top is in place (in my view)! Any move about the 10114 will show us an extension of wave 5 (circle--> subminuette) but I would not change my position about a topp in place!
Have a great day
rubennase