Hello Traders,
NIFTY50 declined to 15729 (weekly close) and is in a corrective mode.
The move from the possible wave 3 high at 15901.60 is a wave 4 moves.
Either developing as a running-flat, what means wave y will end above the wave w low.
Or it will transform as a flat, where waves c=a!
The trend for next week should be to the downside, with making N50 new corrective lows at the area of 15635 at minimum (done or nearly done for the running), or at 15450-15387.95 for the flat variation! All levels are taken from the daily chart!
Another idea for the correction could be a „triangle“ for wave 4. But triangles are rarely and difficult to forecast.
So, stay prepared for the next move and have good luck with your decisions!
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY50 declined to 15729 (weekly close) and is in a corrective mode.
The move from the possible wave 3 high at 15901.60 is a wave 4 moves.
Either developing as a running-flat, what means wave y will end above the wave w low.
Or it will transform as a flat, where waves c=a!
The trend for next week should be to the downside, with making N50 new corrective lows at the area of 15635 at minimum (done or nearly done for the running), or at 15450-15387.95 for the flat variation! All levels are taken from the daily chart!
Another idea for the correction could be a „triangle“ for wave 4. But triangles are rarely and difficult to forecast.
So, stay prepared for the next move and have good luck with your decisions!
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!