Hello Traders,
NIFTY50 made a low @ 16782 on November 29 and has run since to 17469 on a closing basis this morning. The two days of „red-candles“ have been the „back-test“ of the low and if a new high above the 17469 occurs, the door should be open to 17600 levels!
A break of the low at 16891 on December 6 opens the door to 16782 and below to 16666 with more bearish potential!
I have drawn an idealized path for the hours to come!
Will it work out?
We will see.
That's it for a quick note.
Have a great day.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY50 made a low @ 16782 on November 29 and has run since to 17469 on a closing basis this morning. The two days of „red-candles“ have been the „back-test“ of the low and if a new high above the 17469 occurs, the door should be open to 17600 levels!
A break of the low at 16891 on December 6 opens the door to 16782 and below to 16666 with more bearish potential!
I have drawn an idealized path for the hours to come!
Will it work out?
We will see.
That's it for a quick note.
Have a great day.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!