NIFTY50...11666 achieved! Was it all of the decline!?
Hello Traders,
at today`s session, N50 has achieved into the target range of 11666, the low was booked @ 11658.65.
As per my count @ 11666 wave (C) is equal to wave (A).
Interesting to know is, that the a/d-Ratio as of the past two days was @ 0.17 and 0.09 or in other words, for every one stock that was bought 7 and 11 stocks were sold! These are reading that have seldom been seen.
The question is, ..“who still wants to sell when almost all have sold“?
So short term a pullback is possible but not required.
More bearish potential exists and the open target range as of my last analyze is at 11488-11460, where two Fibonacci levels are placed and one open gap has left at the chart.
We will discuss every development here in the coming hours.
Have a great week....
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!
at today`s session, N50 has achieved into the target range of 11666, the low was booked @ 11658.65.
As per my count @ 11666 wave (C) is equal to wave (A).
Interesting to know is, that the a/d-Ratio as of the past two days was @ 0.17 and 0.09 or in other words, for every one stock that was bought 7 and 11 stocks were sold! These are reading that have seldom been seen.
The question is, ..“who still wants to sell when almost all have sold“?
So short term a pullback is possible but not required.
More bearish potential exists and the open target range as of my last analyze is at 11488-11460, where two Fibonacci levels are placed and one open gap has left at the chart.
We will discuss every development here in the coming hours.
Have a great week....
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!