Hello Traders,
on Monday and Tuesday the NIFTY50 has reached higher price levels, up to 23869.60! This was the peak for this wave.
Since, the NIFTY50 is in a corrective mode and set a new multi-days low @ 23412.10! This could be a wave "w" of a w-x-y correction. Possibly it can morph into a triple correction!
Anyway!
If N50 escape above the level of 23649.20 on a hourly basis at minimum, the door could be open to the latest ATH @ 23869.60! In this case, chance has been given for a flat-correction.
A break of the 23462 on an hourly basis instead means, the door is open to lower price in the coming days ahead!
A possible target area is around the 23289 to 23196 levels! More bearish potential exist!
It doesn't matter what the US government will do, it doesn't matter what others do! The playbook has been written, and the stage has been set!
In which direction? Markets will give the answer.
Have a great weekend.....
Ruebennase
Please ask or comment as appropriate.
Trade on this analysis at your own risk.
on Monday and Tuesday the NIFTY50 has reached higher price levels, up to 23869.60! This was the peak for this wave.
Since, the NIFTY50 is in a corrective mode and set a new multi-days low @ 23412.10! This could be a wave "w" of a w-x-y correction. Possibly it can morph into a triple correction!
Anyway!
If N50 escape above the level of 23649.20 on a hourly basis at minimum, the door could be open to the latest ATH @ 23869.60! In this case, chance has been given for a flat-correction.
A break of the 23462 on an hourly basis instead means, the door is open to lower price in the coming days ahead!
A possible target area is around the 23289 to 23196 levels! More bearish potential exist!
It doesn't matter what the US government will do, it doesn't matter what others do! The playbook has been written, and the stage has been set!
In which direction? Markets will give the answer.
Have a great weekend.....
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.