Hello Traders,
at Fridays tradingsession N50 made an intraday high at 10519.90 and reversed shortly thereafter to a close @ 10480.60, with an a/d-Ratio =1.13!
Today I have displayed the bullish and bearish variation at chart to show you my ideas and alternate counts.
At the bearish count at 10519.90 the wave X² high is done or close to do so with one more little push to the upside. Thereafter a sharp and steep decline to fresh new lows below the 9951.90 of March 23 is next to occur! The validation point for the X² idea is the high at 10631.65, the wave „X“ high of Feb. 27!
The bullish outlook shows an impulsiv count within a wave 1 (10190.90) – wave 2 (10111.30) and a wave 3 high (10519.90) or close to do so. So, at both variations one more little push to the upside is possible, after that a pullback within a wave 4 at the coming days next. I have marked the targetzone for a wave 4 with the rectangle at chart.
Two arguments favor that idea. First is that the Gap on April 5 is maybe a „Breakaway-Gap“ (a/d-R @2.4 that day) and the lenght of wave 3 extend to nearly 1.618 the lenght of wave 1 (@10525.51 is the exact measurement)!
In both variation we have a massiv Fib-cluster ahead, created by the 1.618 (the bullish one) and the 1.23 Fib-Ext (created of the bearish case by the lenght from wave a-c). A common targetzone in a wave c move of a flat pattern!
On higher timeframe (Weekly) you can observe, that there is a pattern, called „Three-white-soldiers“ established at chart, which is a clear bullish message to the outlook. It finaly carries the message in it self, that the correction ís done, and fresh ATH are to favor within the next weeks.
So, wish all traders maximum luck and confidence to there counts and trades. Hope my analysis can help a bit to clear the patterns...
Have a great week.......
ruebennase
Weekly chart:
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 NSEIndia.com and moneycontrol.com!
at Fridays tradingsession N50 made an intraday high at 10519.90 and reversed shortly thereafter to a close @ 10480.60, with an a/d-Ratio =1.13!
Today I have displayed the bullish and bearish variation at chart to show you my ideas and alternate counts.
At the bearish count at 10519.90 the wave X² high is done or close to do so with one more little push to the upside. Thereafter a sharp and steep decline to fresh new lows below the 9951.90 of March 23 is next to occur! The validation point for the X² idea is the high at 10631.65, the wave „X“ high of Feb. 27!
The bullish outlook shows an impulsiv count within a wave 1 (10190.90) – wave 2 (10111.30) and a wave 3 high (10519.90) or close to do so. So, at both variations one more little push to the upside is possible, after that a pullback within a wave 4 at the coming days next. I have marked the targetzone for a wave 4 with the rectangle at chart.
Two arguments favor that idea. First is that the Gap on April 5 is maybe a „Breakaway-Gap“ (a/d-R @2.4 that day) and the lenght of wave 3 extend to nearly 1.618 the lenght of wave 1 (@10525.51 is the exact measurement)!
In both variation we have a massiv Fib-cluster ahead, created by the 1.618 (the bullish one) and the 1.23 Fib-Ext (created of the bearish case by the lenght from wave a-c). A common targetzone in a wave c move of a flat pattern!
On higher timeframe (Weekly) you can observe, that there is a pattern, called „Three-white-soldiers“ established at chart, which is a clear bullish message to the outlook. It finaly carries the message in it self, that the correction ís done, and fresh ATH are to favor within the next weeks.
So, wish all traders maximum luck and confidence to there counts and trades. Hope my analysis can help a bit to clear the patterns...
Have a great week.......
ruebennase
Weekly chart:
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 NSEIndia.com and moneycontrol.com!