Hello Traders,
personal note:
I hope and pray for the people of the Kerala region who suffer the consequences of the heavy monsoon and wish them all health, a good recovery and a return to their daily lives!
NIFTY50 is running it`s way and making a new Intradayhigh @ 11565.30, on a closing basis is at 11551.75! The a/d-Ratio is at 1.7, which is bullish and got supported by the TRIN, which closed at 0.7!
I have labeled the impuls as an extending wave 5. All pullback within the one hour chart were very tapid and suggesting strong buying interest. A possible target for a wave 5 is around the 11765-11800 area and will finish a wave ((iii)) at the 1.618 RT of wave ((i))!
the P/C-Ratio for the August contract is „neutral at 1.13, while the ratio for September is at 1.73, possibly a ghood hint for an ongoing advance to new highs within the next days and weeks. As long N50 is tading above ~11234.95 area, a wave 4 low, the trend is up to the named targets.
A possible target for SENSEX surround at 39070 zone.
Have a great week...
ruebennase
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!
personal note:
I hope and pray for the people of the Kerala region who suffer the consequences of the heavy monsoon and wish them all health, a good recovery and a return to their daily lives!
NIFTY50 is running it`s way and making a new Intradayhigh @ 11565.30, on a closing basis is at 11551.75! The a/d-Ratio is at 1.7, which is bullish and got supported by the TRIN, which closed at 0.7!
I have labeled the impuls as an extending wave 5. All pullback within the one hour chart were very tapid and suggesting strong buying interest. A possible target for a wave 5 is around the 11765-11800 area and will finish a wave ((iii)) at the 1.618 RT of wave ((i))!
the P/C-Ratio for the August contract is „neutral at 1.13, while the ratio for September is at 1.73, possibly a ghood hint for an ongoing advance to new highs within the next days and weeks. As long N50 is tading above ~11234.95 area, a wave 4 low, the trend is up to the named targets.
A possible target for SENSEX surround at 39070 zone.
Have a great week...
ruebennase
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!