Hello Traders, NIFTY 50 has achieved the 17600 levels as forecasted. It moved to 17639, what completes a „three-up“ and reversed strong to the downside. What to expect for the coming days? The decline from the possible wave „c“ (blue) high at 17639 is just a corrective move (three-down) and it would fit well into the overall look, as a possible wave b or x...
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...
Hello Traders, NIFTY50 has extended the drop and touched the price area I favored for this scenario! This move was close to an 1.618 Fib.-Extension of waves a! The question is:“was it all?“ At the weekly chart, you will see, that the drop from the ATH @ 18604 has just retrace a 0.382 of the advance from 14151-18604. This is a typical retracement for a wave 4 of...
Hello Traders, this morning, international markets has shown a „mini-crash“! So, no surprise, N50 was still a „follower“ of these moves. N50 is on track, to achieve my target range of 16882-16666. At my latter analysis I wrote, that N50 is able to „jump-back“ to 17588-17705; still it was just 17600! And this morning, markets kept on going with the correction. The...
Hello Traders, NIFTY 50 has achieved my target area within the yellow rectangle! This could be all of the correction, or it is just a wave a/w! The coming days will clear the picture! Obviously to see is the clear „three-down" patten, which was an a-b-c or w-x-y move. The main problem to me is, that I can not identify a „three-down“ within the possible wave c. So,...
Hello Traders, NIFTY50 is on path with my analysis! The high at 18210, the possible wave b high, was topped one day later, and the very next day N50 declined to a close at 17764.802. This move down is part of a wave c or y! A price target for this wave is at or around the 17356.95 level or 17239.80. Both targets are within the yellow rectangle, which I have drawn...
Hello Traders, HS made a low on October 5,at 23681.44 and start a 5-up to 26234. This could be a wave 1 and the following correction a wave 2 or a part of wave 2! So, from this view, the „Mob“-level is at the low 23681. A break of this low will open the door to 211xx area! But if HS is able to rise, in an impulsive move, above 26234 it has the chance to extend to...
Hello Traders, NIFTY50 is in a corrective move. Since the ATH @ 18604, N50 is ranging between 18604 and 17613. I have labelled the 17613 level as a wave a, and the current development as a possible wave b. The move from the latter low implies overlapping structure; to me, it looks like a „typical“ wave b! If so, it just can push to 18219-18342 range, what...
Hello Traders, Hang Seng hasn't made any net progress since September 2020! It is bouncing around, up and down, and it is continuous his bear market, that have started in 2018. Since the ATH @ 33484 HS has shown a nearly 0.786 Fibo correction to even the zone of 20806! The final low in this move down was at 21139.26! Since, HS was not able to create a new impulse...
Hello Traders, NIFTY50 topped at 18604.45, and it is in a corrective move since! It has shown a „three-down“, what is to interpret as a corrective setback in an uptrend. If N50 is only correcting the latter move from 17452.90 to 18604.45, it could be all of it, may one more lower low above this level, and then, it will be continuous the bull-run again! But if N50...
Hello Traders, NIFTY50 has reacted on its way down at 18000-17900 area to the upside, with a sharp, but short counter trend! After it was done, weakness has returned to N50 and put pressure to the downside again. My „critical“ price area was achieved, and in the coming days we have to watch closely what's next for India price index! At 17484-17211 area, market has...
Hello Traders, Hang Seng is trading below the two important zones which ranges from ~23700 (support) to ~26800 (resistance)! A break of both levels should have tremendous impact on the long-term chart picture! Short term, I favour, that HS will run to the upper line of resistance at ~26800 area to re-test the level! A break above that zone, should open the door to...
Hello Traders, NIFTY50 achieved 18604 and finished an impulsive move. The running correction is either all of it or it is a wave a/w of an a-b-c (w-x-y) correction. On the daily chart you will observe, that a „bearish-engulfing was created at top, and since it happened, N50 is on retreat to targets 18000-17900 area first! Note that some tics have left at chart to...
Hello Traders, my mid term price target was achieved this morning. N50 gaped to the upside and made an intraday high at 18543 and closed at 18445. To view the hourly chart you will notice, that there was no „exorbitant“ selling pressure. What could be next? The move underway does not look to me as complete. So a new high is possible within an extending wave to or...
Hello Traders, by Monday`s opening HS gaped to the upside and keep rising for the rest reminder of the week! On a daily basis it look like a (not text book like) „morning star“. If the high at 25437 will be taken out of chart, the door is open to 26560. As I wrote before, „step-by-step“! A break of the possible „morning star“ pattern low at 24865 would release...
Hello Traders, NIFTY50 is on track to my price target @ 18453. More bullish potential exist. Any pull back that ends above or at 17436-17211 range is a corrective setback on lower degree. A break of this level should open the door to 10756 and below to 16700 area! While N50 is rising since the level of 17300 range without any stronger correction, the air becomes...
Hello Traders, NIFTY50 is on track to my price target @ 18453. More bullish potential exist. Any pull back that ends above or at 17436-17211 range is a corrective setback on lower degree. A break of this level should open the door to 10756 and below to 16700 area! While N50 is rising since the level of 17300 range without any stronger correction, the air becomes...
Hello Traders, not much new to add for NIFTY50! My target area 18450 is still valid and N50 is on track to achieve it! A break of the 17326 level on a daily closing price is needed, to re-adjust the outlook! At this level, we have a wide support-range (orange rectangle)! Should this zone be broken downwards, then a move to 17200 should be next. Here, if it were...