Hello Traders,
The NIFTY50 made another lower low at 18837.85 on Friday's session. This was my mentioned argument for the reminder of the week.
I counted the waves as a wave (3) @ 18337.85 and a wave (4) in progress or completed. So another low would be in the cards for the coming trading days! An open target area according to my latest analysis is at or around @ 18654-18457 area! At this level the price would perfectly hit the 1.618 extension of waves w to x!
In Monday's session, it will probably run to 19155 to complete wave (4) within an a-b-c of (4) pattern and after completing a decline to the aforementioned price area.
Here the price should recover and push to higher levels in the coming days!
Update will follow after new observations.
Have a great week.....
Red Nose
Please ask or comment if needed.
Trading based on this analysis is at your own risk.
The NIFTY50 made another lower low at 18837.85 on Friday's session. This was my mentioned argument for the reminder of the week.
I counted the waves as a wave (3) @ 18337.85 and a wave (4) in progress or completed. So another low would be in the cards for the coming trading days! An open target area according to my latest analysis is at or around @ 18654-18457 area! At this level the price would perfectly hit the 1.618 extension of waves w to x!
In Monday's session, it will probably run to 19155 to complete wave (4) within an a-b-c of (4) pattern and after completing a decline to the aforementioned price area.
Here the price should recover and push to higher levels in the coming days!
Update will follow after new observations.
Have a great week.....
Red Nose
Please ask or comment if needed.
Trading based on this analysis is at your own risk.