as of the last analyse N50 is going on to advance and set a new high at this Morning trading @ 10426.50! A/D-Ratio is the third day in a row at 1.08, indicating no exhausting of buying intensity.
The classic Indicators, as there is ; and the VIX are trading at the upper range of there values, VIX seems to start to move higher.
At 10439 the lenghth of Wave „C“ is equal to Wave „A“, a common target for the end of a countertrend push within a Wave „C“! At 10478.6 zone a doubletop is possible.
I have labbeld the chart as a possible „w-x-y-x-z“ or it is done at 9951.90 and a fresh advance has started.
On a a „Hanging-Man“ pattern is at a distinctively point at chart and to watch closely! Notice that price has outpaced the rising an tested afterwards to say „Good-by“?
Any contact with the level of 10279.85 will eliminate the variation of the count and complete the countertrend at the upper side!
Be prepared for the unexpected!
Have a great week...
Questions and Comments are welcome!
Note!---> This analysis can be wrong. It is just in my view the one with the most probabiltity with the Data which are available to me and by my interpretation of the EW Theory. If you trade this it is done by your own risk and decision! Keep that in Mind!!!
Data by NSEIndia.com and moneycontrol.com!
In a triple zigzag, the first X wave can never travel beyond the start of wave W, and the second X wave can never travel beyond the start of wave Y.