Hello Traders,
Note: Next week will be no update. I`ll be back on September 16-17!
NIFTY50 is trading below my cited target range @ 19584, but above Friday's low @ 19229. So, my targets to the upside, published at the latest analysis, are still valid.
Furthermore, N50 is advancing within a "wedge".
No matter which pattern is developing within the wedge, a break off the upper boundary ~ 19470-19490 area opens the door to 19584-19600 range with more bullish potential.
Further targets on the upper side are 19645-19800. If the 19800 are taken out of the market, the ATH`s are in front of us.
As always the scenario to the downside, if N50 breaks below 19229 and the lower boundary of the wedge.
In this case, N50 would "dive" into the red rectangle with my mentioned targets @19100-19080. A break of the lower black trend line opens the door to 18600 range. Note, that many gaps are located there, and a decline with much selling pressure would close all these open gaps within a quick and sharp move.
So, my fellow mates.....
The path for the coming week has been set!
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
Note: Next week will be no update. I`ll be back on September 16-17!
NIFTY50 is trading below my cited target range @ 19584, but above Friday's low @ 19229. So, my targets to the upside, published at the latest analysis, are still valid.
Furthermore, N50 is advancing within a "wedge".
No matter which pattern is developing within the wedge, a break off the upper boundary ~ 19470-19490 area opens the door to 19584-19600 range with more bullish potential.
Further targets on the upper side are 19645-19800. If the 19800 are taken out of the market, the ATH`s are in front of us.
As always the scenario to the downside, if N50 breaks below 19229 and the lower boundary of the wedge.
In this case, N50 would "dive" into the red rectangle with my mentioned targets @19100-19080. A break of the lower black trend line opens the door to 18600 range. Note, that many gaps are located there, and a decline with much selling pressure would close all these open gaps within a quick and sharp move.
So, my fellow mates.....
The path for the coming week has been set!
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.