Hello Traders, NIFTY50 finished another waves 1 and 2 @ 16414.70 and shows a corrective move since, which is not done. N50 is working on a kind of a „flat“ or a variation thereof. At 16019 the 0.618 Fibo is placed, while @ 15966 waves c = a! More corrective (bearish) potential exist, and from 15912-15855 there is another target area. At 15966 the open gap left by trading on May 19-20 will be closed. A break of 15775 will eliminate the bullish idea, and bears might take control. That's it for a quick note, after a busy day. Have a great time..... Ruebennase
Feel free to ask or comment! Trading this analysis is at your own risk!