Hello Traders,
at my latter analysis, I wrote the following: „In both cases, the path for the nest 2-3 days has been set! Rising price to or around, 18000-181xx levels!“
This statement was wrong!
NIFTY50 did not advance to my target area, but failed. It has risen over the week, but the slope of the move, make it more or less a wave ((iv)) or a part of it!
Two scenarios are in focus for the coming week!
First is the bullish one.
A break of the high @ 17839 would open the door to the price area, mentioned at my latter analysis, and in consequence, my price target would be next to come!
For the less bullish scenario, the high @ 17839 was a waves b/x high, and a decline within a waves c/y would be next.
In the case of a wave c, the price target would be below the possible wave a area @ 17637.
A wave y should end above this area, maybe, 17620 levels!
Anyway! As before.
Much, if not all, will depend on US-markets behavior!
Be prepared for the unexpected!
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
at my latter analysis, I wrote the following: „In both cases, the path for the nest 2-3 days has been set! Rising price to or around, 18000-181xx levels!“
This statement was wrong!
NIFTY50 did not advance to my target area, but failed. It has risen over the week, but the slope of the move, make it more or less a wave ((iv)) or a part of it!
Two scenarios are in focus for the coming week!
First is the bullish one.
A break of the high @ 17839 would open the door to the price area, mentioned at my latter analysis, and in consequence, my price target would be next to come!
For the less bullish scenario, the high @ 17839 was a waves b/x high, and a decline within a waves c/y would be next.
In the case of a wave c, the price target would be below the possible wave a area @ 17637.
A wave y should end above this area, maybe, 17620 levels!
Anyway! As before.
Much, if not all, will depend on US-markets behavior!
Be prepared for the unexpected!
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!