Hello Traders,
todays data: o: 10175.60; h: 10178.95; l: 10129.95; c: 10147.55 (-5.55p or -0.05%); a/d-Ratio=0.82
the past two trading days NIFTY50 exceed to the blue upper boundery line as I anticipated and reverse from that level. In both of my scenarios it is possible to count the move`s as complete. This may means a sharp decline in the bearish case is just at forefront (wave c down below 9685.55) or an >a-b-c< decline in the bullish case is around the corner with one more fresh high in the coming hours! Targets for the bullish case are around 10310-10417!If NIFTY exceed above this level with a strong a/d-Ratio and a solid close on a daily basis I will switch my count to bullish and the next advance is on it`s way.
A/D-ratio this day was weak at 0.82 while it jumped yesterday to 3.25! Todays trading day shows a "Dark cloud cover" pattern at all Major India Indexes, which is a reversal pattern and markets have to confirm it.
So what does this mean for the market`s?
I guess that the top is not right in place and it need one more push to the upside to complete the pattern, may with a sharp spike up, because the move from 10178.95-10129.55 look like a 3- move which is not complete and will terminate at ~ 10130 or below to ~ 10083-10075 zone. (Note: if you count every single move from 9685.55, you get 8, which is non-bullish or bearish. At least one more move to the upper side is missing....)
More bearish potencial exist! A solid close below 10045 with negative breadth and a negative a/d-Ratio will set the stage for a longer lasting decline in my view! So we are watching close to recognice a 5-move pattern to the downside which will imply that a top is in place and a decline has started!
As long as this behavior is not to observe we must await higher high`s or a frustrating sideways move in the next hours.
At forefront to the FED-meeting tomorrow and the upcoming volatility to my view we leave hands off the market and react as time has come.
Have a great day
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 NSE!
todays data: o: 10175.60; h: 10178.95; l: 10129.95; c: 10147.55 (-5.55p or -0.05%); a/d-Ratio=0.82
the past two trading days NIFTY50 exceed to the blue upper boundery line as I anticipated and reverse from that level. In both of my scenarios it is possible to count the move`s as complete. This may means a sharp decline in the bearish case is just at forefront (wave c down below 9685.55) or an >a-b-c< decline in the bullish case is around the corner with one more fresh high in the coming hours! Targets for the bullish case are around 10310-10417!If NIFTY exceed above this level with a strong a/d-Ratio and a solid close on a daily basis I will switch my count to bullish and the next advance is on it`s way.
A/D-ratio this day was weak at 0.82 while it jumped yesterday to 3.25! Todays trading day shows a "Dark cloud cover" pattern at all Major India Indexes, which is a reversal pattern and markets have to confirm it.
So what does this mean for the market`s?
I guess that the top is not right in place and it need one more push to the upside to complete the pattern, may with a sharp spike up, because the move from 10178.95-10129.55 look like a 3- move which is not complete and will terminate at ~ 10130 or below to ~ 10083-10075 zone. (Note: if you count every single move from 9685.55, you get 8, which is non-bullish or bearish. At least one more move to the upper side is missing....)
More bearish potencial exist! A solid close below 10045 with negative breadth and a negative a/d-Ratio will set the stage for a longer lasting decline in my view! So we are watching close to recognice a 5-move pattern to the downside which will imply that a top is in place and a decline has started!
As long as this behavior is not to observe we must await higher high`s or a frustrating sideways move in the next hours.
At forefront to the FED-meeting tomorrow and the upcoming volatility to my view we leave hands off the market and react as time has come.
Have a great day
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 NSE!