Hello Traders,
NIFTY50 has risen this week to 19595! Just ~ 600 points below my mentioned target @ ~20130 range. And, more important, there has been no "corrective days" ahead, just hours!
The trend is up, and above, 19303 it will stay so, too.
A break of this area to the downside, would open the door to several "gap-close" levels, which will be discussed if necessary. This correction, if so to come, will lead to a ~ 700 points loss!
As per my count, and at the new ATH, a wave 5 of 3 could be done on Friday. The pattern on 1 h chart look more corrective, `caused by the overlapping waves and pattern.
So, the alternate view could be a wave a of 4 underway, or a "triangle" under construction.
For the latter view, I'd like to see more evidence.
So, anyway. A roughly 950 points bull run could be exhausted at any time, and N50 would need some pause in the uptrend!
But for this, I need to see more facts. Not just yet established.
So, as always. Be prepared for the unexpected.
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY50 has risen this week to 19595! Just ~ 600 points below my mentioned target @ ~20130 range. And, more important, there has been no "corrective days" ahead, just hours!
The trend is up, and above, 19303 it will stay so, too.
A break of this area to the downside, would open the door to several "gap-close" levels, which will be discussed if necessary. This correction, if so to come, will lead to a ~ 700 points loss!
As per my count, and at the new ATH, a wave 5 of 3 could be done on Friday. The pattern on 1 h chart look more corrective, `caused by the overlapping waves and pattern.
So, the alternate view could be a wave a of 4 underway, or a "triangle" under construction.
For the latter view, I'd like to see more evidence.
So, anyway. A roughly 950 points bull run could be exhausted at any time, and N50 would need some pause in the uptrend!
But for this, I need to see more facts. Not just yet established.
So, as always. Be prepared for the unexpected.
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.