NIFTY50.....Don't loose your panic!Hello Traders,
as before; the NIFTY50 shows weakness again and I think, there is more pressure to come.
If N50 will decline below the level of 23349 to 23263 (daily timeframe ), the door is open to much lower levels in the coming weeks ahead!
Reallly often, some indices are showing a "three-down" while getting weak. More often than not, waves c=a in price. So the door can be open really soon, that price dropp lower in the coming days.
While it takes a bounce above the level of 24857 the make a brand new buy signal, the level of 23353 is close at hand, and it has been touched on Friday's session! So, expect a "test" of this area!
Since June 17th+20th we have risen more than 11K points! I think you will agree, that sooner or later a massive test off the retracements is the minimum to expect!
I feel sad, that I have no better news and count ideas for you, my fellow friends.
But keep in mind, there is always a chance to come back!
And my friends! We will!
Have a good week.....
Ruebennase
Please ask or comment as appropriate.
Trade on this analysis at your own risk.
