Hello Traders,
NIFTY 50 has extended my target range well! It declined to 16826 and closed an open gap, left by trading on July 28 – 29!
One more open gap is left; it ranges from 16642-16776 on July 27-28!
If this gap gone be close, the chance is excellent, that, maybe within a „spike“ down, N50 will touch the range of 16450 area. Here, a wave 4 of lower degree was counted!
If so to come, from here a reversal can start to the upside. For this idea, we need to see more evidence in the coming hours!
But, if today's low was the low, or close to be, a sharp „v-reversal“ should occur in the coming hours, and N50 will rise several hundred points.
It is difficult to count a complete impulse into the range from 18096 to16826, and it will be interesting at tomorrow's session!
Several opportunities could be possible. So wait for clear pattern.
Have a great Friday.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY 50 has extended my target range well! It declined to 16826 and closed an open gap, left by trading on July 28 – 29!
One more open gap is left; it ranges from 16642-16776 on July 27-28!
If this gap gone be close, the chance is excellent, that, maybe within a „spike“ down, N50 will touch the range of 16450 area. Here, a wave 4 of lower degree was counted!
If so to come, from here a reversal can start to the upside. For this idea, we need to see more evidence in the coming hours!
But, if today's low was the low, or close to be, a sharp „v-reversal“ should occur in the coming hours, and N50 will rise several hundred points.
It is difficult to count a complete impulse into the range from 18096 to16826, and it will be interesting at tomorrow's session!
Several opportunities could be possible. So wait for clear pattern.
Have a great Friday.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!