Hello Traders,
today the NIFTY50 has declined to 25597 on a closing basis. This is a loss of 165 points or 0.64%!
This was inline with my expectation.
What's next for N50?
As to observe at the chart. The N50 has nearly exactly met my target range (marked with the red-line) @25578 and stopped for the moment! He failed only by one point!
This also marked another Order-block that was created on June27!
To keep the idea of a wave IV valid, it is necessarily that the index will change its direction in the coming 1–2 days at latest! A new ATH would be the consequence!
If N50 declines deeper, the targets would be at or around the 25091–24938 levels. In normal times, waves iv does not correct steeper as a 0.5 retracement. On the other hand is the chance given, that we are not moving in a wave iv, moreover we would be in a wave ii?
Well, friends, market will give the answer.
Have a great week.....
Ruebennase
Please ask or comment as appropriate.
Trade on this analysis at your own risk.
today the NIFTY50 has declined to 25597 on a closing basis. This is a loss of 165 points or 0.64%!
This was inline with my expectation.
What's next for N50?
As to observe at the chart. The N50 has nearly exactly met my target range (marked with the red-line) @25578 and stopped for the moment! He failed only by one point!
This also marked another Order-block that was created on June27!
To keep the idea of a wave IV valid, it is necessarily that the index will change its direction in the coming 1–2 days at latest! A new ATH would be the consequence!
If N50 declines deeper, the targets would be at or around the 25091–24938 levels. In normal times, waves iv does not correct steeper as a 0.5 retracement. On the other hand is the chance given, that we are not moving in a wave iv, moreover we would be in a wave ii?
Well, friends, market will give the answer.
Have a great week.....
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.