Hello Traders
N50 declined this morning to 11250.20, which is close to equal wave (C) and (a)!It also meet the wave ((4)) level of one lesser degree. And second, if the decline is wave (iv) of 5 (Minor degree) the „deadline“ for this correction is the wave ((i)) high @10784.65 at latest!
After two days with a lagging and very shallow a/d-Ratio of 0.19 and 0.14 it raise today to 1.34 with a nearly neutral TRIN! So the odds do decrease that the correction is done.
If so a new ATH is just around the corner with targets well above the 11760 of Aug 28!
For the alternate interpretation is possible, that a wave ((v)) of 5 (Minor degree) has endet at 11760.
But keep in mind the „bearish Engulfing“ at the weekly chart for N50!
Have a great week...
ruebennase
Questions and Comments are welcome!
Note!---> This analys 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!
N50 declined this morning to 11250.20, which is close to equal wave (C) and (a)!It also meet the wave ((4)) level of one lesser degree. And second, if the decline is wave (iv) of 5 (Minor degree) the „deadline“ for this correction is the wave ((i)) high @10784.65 at latest!
After two days with a lagging and very shallow a/d-Ratio of 0.19 and 0.14 it raise today to 1.34 with a nearly neutral TRIN! So the odds do decrease that the correction is done.
If so a new ATH is just around the corner with targets well above the 11760 of Aug 28!
For the alternate interpretation is possible, that a wave ((v)) of 5 (Minor degree) has endet at 11760.
But keep in mind the „bearish Engulfing“ at the weekly chart for N50!
Have a great week...
ruebennase
Questions and Comments are welcome!
Note!---> This analys 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!