Hello Traders,
NIFTY50 has risen this week to 19595! Just ~ 600 points below my mentioned target @ ~20130 range. And, more important, there has been no "corrective days" ahead, just hours!
The trend is up, and above, 19303 it will stay so, too.
A break of this area to the downside, would open the door to several "gap-close" levels, which will be discussed if necessary. This correction, if so to come, will lead to a ~ 700 points loss!
As per my count, and at the new ATH, a wave 5 of 3 could be done on Friday. The pattern on 1 h chart look more corrective, `caused by the overlapping waves and pattern.
So, the alternate view could be a wave a of 4 underway, or a "triangle" under construction.
For the latter view, I'd like to see more evidence.
So, anyway. A roughly 950 points bull run could be exhausted at any time, and N50 would need some pause in the uptrend!
But for this, I need to see more facts. Not just yet established.
So, as always. Be prepared for the unexpected.
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY50 has risen this week to 19595! Just ~ 600 points below my mentioned target @ ~20130 range. And, more important, there has been no "corrective days" ahead, just hours!
The trend is up, and above, 19303 it will stay so, too.
A break of this area to the downside, would open the door to several "gap-close" levels, which will be discussed if necessary. This correction, if so to come, will lead to a ~ 700 points loss!
As per my count, and at the new ATH, a wave 5 of 3 could be done on Friday. The pattern on 1 h chart look more corrective, `caused by the overlapping waves and pattern.
So, the alternate view could be a wave a of 4 underway, or a "triangle" under construction.
For the latter view, I'd like to see more evidence.
So, anyway. A roughly 950 points bull run could be exhausted at any time, and N50 would need some pause in the uptrend!
But for this, I need to see more facts. Not just yet established.
So, as always. Be prepared for the unexpected.
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.