Hello Traders,
the NIFTY50 plunged to 23460 on December 31th! The recovery than has brought the N50 back to 24226 on January 2nd. This could be a wave 2 of c!
From this perspective, the forecast is inline with my expectation.
So, the next move could be a wave 3 of c down to fresh new lows in the days ahead.
Keep in mind! C-waves are almost the strongest waves within an impulse. So one target range should be around 22077! More bearish potential is at hand.
On the other hand!
It needs a break off the 24857 area to establish a new buy-signal. For now, there is no evidence for this scenario!
Anyway! Be prepared for the unexpected!
Have a great time.....
Ruebennase
Please ask or comment as appropriate.
Trade on this analysis at your own risk.
the NIFTY50 plunged to 23460 on December 31th! The recovery than has brought the N50 back to 24226 on January 2nd. This could be a wave 2 of c!
From this perspective, the forecast is inline with my expectation.
So, the next move could be a wave 3 of c down to fresh new lows in the days ahead.
Keep in mind! C-waves are almost the strongest waves within an impulse. So one target range should be around 22077! More bearish potential is at hand.
On the other hand!
It needs a break off the 24857 area to establish a new buy-signal. For now, there is no evidence for this scenario!
Anyway! Be prepared for the unexpected!
Have a great time.....
Ruebennase
Please ask or comment as appropriate.
Trade on this analysis at your own risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.