NIFTY50...continues in wave ii (my analyse as of yesterday..)
Hello Traders,
today NIFTY50 start with a massiv gap up to 9893.30 after closing last tradingsession at 9788.60, set his high at the first 15 min and decline to 9831.05, move more or less sideways, while closing @ 9859.50 (+70.90/+0.72%)! The a/d-Ratio jumped to 3.16 and it marks either the start of a wave 1 and a new advance or it is the end of wave ((A)) as it was at Sept. 18, just hours before wave 5 of c of (b) topped and the massiv decline in wave c start!
While the move from 9687.55 is clearly a five wave move which implies a ZigZag pattern for a wave ii in the corrective view we have several targets for a pullback in a wave ((B)), as there is the 0.618 Rt 1.40% -0.23% of wave ((A)) at 9767.50 which is also the wave 4 level of one lesser degree! So if this behavior occurs, an advance in a wave ((C)) has to start with targets above wave`s ((A)) high at @ 9921-9944 which includes again a wave 4 zone and some Fibo Rt! From here a new decline in wave iii 0.77% 0.78% has to start.
If todays 0.00% 0.00% advance is the start of a new advance we`re still done in wave i or close to do so. A sharp pullback in wave ii at ~ 9767 (0.618 RT 1.40% -0.23% ) or a bit lower is to favor (a more than often touched Fibo level) and advance in wve iii 0.77% 0.78% is at forefront.
USD/INR shows some weakness (4h chart) and the ROC also is still declining while his MA (13) also shows weakness. I still think the advance in NIFTY50 isn`t already done!
Some of the Indexes as the NIFTY500/200, SENSEX, S&P -0.04% 0.02% NIFTY 0.54% 0.72% FUTURE E.micro shows some candle-pattern which are open for different interpretation. But all close the day with a red one! We have to watch the level of 9922-9944 closely and look for reversal candlestick pattern here. If some gap up, after a pullback to ~9767 has to occur in conjunction with a advancing a/d-Ratio occurs could this be a strong fingertip that a new advance has start to new ATH`s!
Have agreat week
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!
PS: Have had some problems with publishing new ideas...hope it work now as well
today NIFTY50 start with a massiv gap up to 9893.30 after closing last tradingsession at 9788.60, set his high at the first 15 min and decline to 9831.05, move more or less sideways, while closing @ 9859.50 (+70.90/+0.72%)! The a/d-Ratio jumped to 3.16 and it marks either the start of a wave 1 and a new advance or it is the end of wave ((A)) as it was at Sept. 18, just hours before wave 5 of c of (b) topped and the massiv decline in wave c start!
While the move from 9687.55 is clearly a five wave move which implies a ZigZag pattern for a wave ii in the corrective view we have several targets for a pullback in a wave ((B)), as there is the 0.618 Rt 1.40% -0.23% of wave ((A)) at 9767.50 which is also the wave 4 level of one lesser degree! So if this behavior occurs, an advance in a wave ((C)) has to start with targets above wave`s ((A)) high at @ 9921-9944 which includes again a wave 4 zone and some Fibo Rt! From here a new decline in wave iii 0.77% 0.78% has to start.
If todays 0.00% 0.00% advance is the start of a new advance we`re still done in wave i or close to do so. A sharp pullback in wave ii at ~ 9767 (0.618 RT 1.40% -0.23% ) or a bit lower is to favor (a more than often touched Fibo level) and advance in wve iii 0.77% 0.78% is at forefront.
USD/INR shows some weakness (4h chart) and the ROC also is still declining while his MA (13) also shows weakness. I still think the advance in NIFTY50 isn`t already done!
Some of the Indexes as the NIFTY500/200, SENSEX, S&P -0.04% 0.02% NIFTY 0.54% 0.72% FUTURE E.micro shows some candle-pattern which are open for different interpretation. But all close the day with a red one! We have to watch the level of 9922-9944 closely and look for reversal candlestick pattern here. If some gap up, after a pullback to ~9767 has to occur in conjunction with a advancing a/d-Ratio occurs could this be a strong fingertip that a new advance has start to new ATH`s!
Have agreat week
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!
PS: Have had some problems with publishing new ideas...hope it work now as well