Hello Traders,
NIFTY50 is showing weakness and is in a corrective mode! The series of lower high's and lower low's are still intact.
If the daily count works out, N50 is tumbling lower within a wave 3 of 3 (y) with targets at 16178 area the next days.
This move, if so to come, will complete the strongest impulsive wave down. To finally accomplish this leg, lower lows are to expect!
The alternate view is that N50 is declining within a wave (c) of ((iv)) of a “triangle."
Once it has to establish the (a) - (c) line, the next leg should be up to create waves (d).
For this idea, take notice of the two diverging blue lines (for now, they are „idealized").
For one bullish view, it needs a return above the 18350 level.
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY50 is showing weakness and is in a corrective mode! The series of lower high's and lower low's are still intact.
If the daily count works out, N50 is tumbling lower within a wave 3 of 3 (y) with targets at 16178 area the next days.
This move, if so to come, will complete the strongest impulsive wave down. To finally accomplish this leg, lower lows are to expect!
The alternate view is that N50 is declining within a wave (c) of ((iv)) of a “triangle."
Once it has to establish the (a) - (c) line, the next leg should be up to create waves (d).
For this idea, take notice of the two diverging blue lines (for now, they are „idealized").
For one bullish view, it needs a return above the 18350 level.
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!