Hello Traders,
NIFTY50 took 16261 off the board; just with a „simple“ gap-up!
It opens Friday's session at 16300, shows a short-term correction and run to 16352 on a closing basis (intraday high @ 16370).
So, N50 has the potential to advance to 16414 and set new high's in consequence.
Note, that there is one more open gap from 16661.95 to 16387.25, left by trading from May 04-06!
Once price is moving into the open gap range, it act's as a „magnet“ and will be closed pretty soon!
Overall we have the price- and target range for N50 in the coming 1-2 day's, at latest for the week.
More bullish potential exist.
But keep in mind, that the corrective pullback's will be sharp and deep!
It needs a break of the levels at 15711 range to turn the pages to the bearish side; but this is not expected!
Have a great weekend....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY50 took 16261 off the board; just with a „simple“ gap-up!
It opens Friday's session at 16300, shows a short-term correction and run to 16352 on a closing basis (intraday high @ 16370).
So, N50 has the potential to advance to 16414 and set new high's in consequence.
Note, that there is one more open gap from 16661.95 to 16387.25, left by trading from May 04-06!
Once price is moving into the open gap range, it act's as a „magnet“ and will be closed pretty soon!
Overall we have the price- and target range for N50 in the coming 1-2 day's, at latest for the week.
More bullish potential exist.
But keep in mind, that the corrective pullback's will be sharp and deep!
It needs a break of the levels at 15711 range to turn the pages to the bearish side; but this is not expected!
Have a great weekend....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!