Hello Traders,
the NIFTY50 has achieved my target range @ 23872 and touched the wave x² range of a possible triple pattern. This was inline to my analysis!
It will be interesting to observe how market will react in the coming one or two days ahead!
Chart analysis!
As to seen, there is a trend line drawn, and it has been touched three times, what makes this one really important! On the way up, there are some gaps to the upside, and sooner or later, they will be closed.
A first target for this scenario could be a range of about 22867 area.
The bulls have to watch the impulsive structure, that has been formed at the last days, 'cause it's possible to count an impulsive move up (1-2-3-4-5)! The next move, when it is done, is a correction within a wave 2, that more often than not retrace a 0.618 Fibo of wave 1 of any degree. New lows, while not expected, are just below @22194 a real scenario!
When the bulls are willing to extend the gains, one target range is around the wave x of the triple @ 24857 a realistic idea!
Well, friends, that's it for a quick note.
Happy Easter and a great week for all of you.....
Ruebennase
Please ask or comment as appropriate.
Trade on this analysis at your own risk.
the NIFTY50 has achieved my target range @ 23872 and touched the wave x² range of a possible triple pattern. This was inline to my analysis!
It will be interesting to observe how market will react in the coming one or two days ahead!
Chart analysis!
As to seen, there is a trend line drawn, and it has been touched three times, what makes this one really important! On the way up, there are some gaps to the upside, and sooner or later, they will be closed.
A first target for this scenario could be a range of about 22867 area.
The bulls have to watch the impulsive structure, that has been formed at the last days, 'cause it's possible to count an impulsive move up (1-2-3-4-5)! The next move, when it is done, is a correction within a wave 2, that more often than not retrace a 0.618 Fibo of wave 1 of any degree. New lows, while not expected, are just below @22194 a real scenario!
When the bulls are willing to extend the gains, one target range is around the wave x of the triple @ 24857 a realistic idea!
Well, friends, that's it for a quick note.
Happy Easter and a great week for all of you.....
Ruebennase
Please ask or comment as appropriate.
Trade on this analysis at your own risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.