NIFTY50.....On track with my forecast!Hello Traders,
Personal note!
I am at home during my rehabilitation program after my stroke. A short break from the daily rehab routine.
I expect to continue my rehab until the 6th of March 2025.
After that, I hope to be back to normal.
Thank you all for your understanding and best wishes for a speedy recovery!
Kind regards
Rubennase
The chart!
After an unsuccessful breakout from the Ichimoku Kumo, the NIFTY50 followed the path of a correction. A new multi-week low was made on Friday the 21st at 22720! The index is on track with my analysis and short hand to touch my multi-week analysed price target @22167!
There is a possibility that the N50 will recover from its multi-week low @22167 and start a new impulse (?) move higher. A daily close above 22167 is important for this idea!
More interesting is the fact that the N50 will follow the path to my target range in the coming weeks. There is more bearish potential!
A break of 22587 will establish the trend to the downside!
At 22006 the waves a=c! Note this fact! A possible "spike" to the downside is probably something to think about!
Well friends, that's it for a quick note.
See you after my rehab, and thanks again!
Kind regards
Red Nose
Please ask or comment as appropriate.
Trade on this analysis at your own risk.