Hello Traders,
NIFTY50 touched the 16836 level and bounced to the upside!
The move since is, to my view, a wave's a-b-c-flat! Recall; flat is a „catch-all-name.
So, don't be surprised if new lows occur on Monday/Tuesday.
The forecast per my outlook on January 24 is still valid!
I copied it below:
If the high at 18350 was a wave ((B)), the door is open to 16410 and below. If the high was a wave ((X)) high, it will end above this level as a wave ((Y))!
A move above the 17380 area should open the door to 17645-17708-17782 (gap-close) levels.
Have a great weekend....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY50 touched the 16836 level and bounced to the upside!
The move since is, to my view, a wave's a-b-c-flat! Recall; flat is a „catch-all-name.
So, don't be surprised if new lows occur on Monday/Tuesday.
The forecast per my outlook on January 24 is still valid!
I copied it below:
If the high at 18350 was a wave ((B)), the door is open to 16410 and below. If the high was a wave ((X)) high, it will end above this level as a wave ((Y))!
A move above the 17380 area should open the door to 17645-17708-17782 (gap-close) levels.
Have a great weekend....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!