Hello traders,
Back from injury....!
My analysis for the NIFTY50 played out and it is climbing to a new ATH @ 26277! After reaching this level, the index is in a sharp corrective move within a wave iv or a of iv. This means that a final ATH is missing and will be established by the end of the year. This is my assumption.
On the daily timeframe the structure is clearer.
The gap down this morning is a clear bearish signal and could turn into lower targets, probably from 23893 to 23140!
As long as the NIFTY50 is below today's high (@ 25639), the path is even lower. A first target is to wait for @ or around 248xx levels.
Due to the war, the situation has changed and I recommend not to take and hold options overnight or over the weekend!
A new update is expected after new moves or a "follow-through" move in the coming days!
Have a nice weekend.....
Ruebennase
Please ask or comment if necessary.
Trading on the basis of this analysis is at your own risk.
Back from injury....!
My analysis for the NIFTY50 played out and it is climbing to a new ATH @ 26277! After reaching this level, the index is in a sharp corrective move within a wave iv or a of iv. This means that a final ATH is missing and will be established by the end of the year. This is my assumption.
On the daily timeframe the structure is clearer.
The gap down this morning is a clear bearish signal and could turn into lower targets, probably from 23893 to 23140!
As long as the NIFTY50 is below today's high (@ 25639), the path is even lower. A first target is to wait for @ or around 248xx levels.
Due to the war, the situation has changed and I recommend not to take and hold options overnight or over the weekend!
A new update is expected after new moves or a "follow-through" move in the coming days!
Have a nice weekend.....
Ruebennase
Please ask or comment if necessary.
Trading on the basis of 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.