Hello Traders,
today's points of trading: o: 10139.60; h: 10158,90; l: 10058,60; c: 10121,90 (-19.25p or -0.19%)! A/D-Ratio was at 0.515!
Today session has shown a correction which is possible to label as an a-b-c decline or a -w-x-y which in both cases not already done! So I suspect that a wave y is the next move ahead, which will complete a double zigzag or a normal a-b-c move to the downside with targets below 10058 (...10027?), today's low at minimum. Here a wave 4 will end and a new advance to a new ATH will start. Targets I have named days before as the levels are 10310-10420 zone. Here a wave b is still to end and a wave c down will start!
In the bullish case we correct down to complete the wave 4 (blue) to 10040 area and from here the advance to a new high will set the stage. The MoB level for that bullish scenario is 9948!
I´m not really sure how this pattern fits into the overall view, but the ongoing weakness to by stocks is telling me we`re near at an terminal point.
Today's low called the traders to come back to catch the chance for another advance but if this one will be serious...?
Have a great day
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 NSE!
today's points of trading: o: 10139.60; h: 10158,90; l: 10058,60; c: 10121,90 (-19.25p or -0.19%)! A/D-Ratio was at 0.515!
Today session has shown a correction which is possible to label as an a-b-c decline or a -w-x-y which in both cases not already done! So I suspect that a wave y is the next move ahead, which will complete a double zigzag or a normal a-b-c move to the downside with targets below 10058 (...10027?), today's low at minimum. Here a wave 4 will end and a new advance to a new ATH will start. Targets I have named days before as the levels are 10310-10420 zone. Here a wave b is still to end and a wave c down will start!
In the bullish case we correct down to complete the wave 4 (blue) to 10040 area and from here the advance to a new high will set the stage. The MoB level for that bullish scenario is 9948!
I´m not really sure how this pattern fits into the overall view, but the ongoing weakness to by stocks is telling me we`re near at an terminal point.
Today's low called the traders to come back to catch the chance for another advance but if this one will be serious...?
Have a great day
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 NSE!