Hello Traders,
NIFTY50 is moving as forecasted to new high's.
The main trend is placed best into a wave (3) of lower degree and could be rise to ~ 16110 area.
Short term correction could be of lower degree as a wave 4 for example. Note that wave 4 corrections could take more time.
At the hourly chart I have visualized my idea for the coming hours.
N50 could end a wave 3 and the correction since the high @ 15800.45 level was a wave's a and b, which is done or close to do so, and a wave c down to come! This possible wave c could end at or around the 15500-15400 area, were a wave 4 of lower degree was done!
Anyway. A break of the green trend line (green, daily) would be a sign, that the up-trend could stop for a while and a longer correction might be start at the tops.
Have a great Friday.....
Ruebennase
Feel free to ask or comment!
Trding this analysis is at your own risk!
NIFTY50 is moving as forecasted to new high's.
The main trend is placed best into a wave (3) of lower degree and could be rise to ~ 16110 area.
Short term correction could be of lower degree as a wave 4 for example. Note that wave 4 corrections could take more time.
At the hourly chart I have visualized my idea for the coming hours.
N50 could end a wave 3 and the correction since the high @ 15800.45 level was a wave's a and b, which is done or close to do so, and a wave c down to come! This possible wave c could end at or around the 15500-15400 area, were a wave 4 of lower degree was done!
Anyway. A break of the green trend line (green, daily) would be a sign, that the up-trend could stop for a while and a longer correction might be start at the tops.
Have a great Friday.....
Ruebennase
Feel free to ask or comment!
Trding this analysis is at your own risk!