Hello Traders,
NIFTY50 open the day with a Gap up to 9819.70 by making it`s low at 9852.70 and close the day at 9775.10! This daily structure fits well the look of a Wave a up, the low is wave b and the next hours a push to 9850-9890 zone is ahead which will finished the Wace (c) of c of (ii) of c (circle)! At 9848.70 the .618 RT of the Wave (i) decline will also be touched!
If this count is correct a sharp decline to new lows in NIFTY 50 in the next hours is still around the corner!
Another view at the other hand is that Wave b (circle) is wave a of b (circle) and the downmove was Wave b of b (circle) and the expected coming upmove is wave c of b (circle)!
By analysing the 4 hour chart it is still possible to label the complete down sequence as an impulsiv one, with a 1-2-3-4 (done) and a sharp decline in Wave 5 to complete the move is ahead. For this idea a common target will be the zone of 9482 where a Wave 4 of lesser degree has endet! For this idea the 9996 is the MoB level! After that a strong push to the upside will occur.
As of yesterday! Both interpretations are possible, but in my view the correction isn`t done now!
Have a great day
rubennase
Questions and Comments are welcome! Feel free to so so...
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 the EW Theory. If you trade this it is done by your own risk and decision! Keep that in Mind!!!!
NIFTY50 open the day with a Gap up to 9819.70 by making it`s low at 9852.70 and close the day at 9775.10! This daily structure fits well the look of a Wave a up, the low is wave b and the next hours a push to 9850-9890 zone is ahead which will finished the Wace (c) of c of (ii) of c (circle)! At 9848.70 the .618 RT of the Wave (i) decline will also be touched!
If this count is correct a sharp decline to new lows in NIFTY 50 in the next hours is still around the corner!
Another view at the other hand is that Wave b (circle) is wave a of b (circle) and the downmove was Wave b of b (circle) and the expected coming upmove is wave c of b (circle)!
By analysing the 4 hour chart it is still possible to label the complete down sequence as an impulsiv one, with a 1-2-3-4 (done) and a sharp decline in Wave 5 to complete the move is ahead. For this idea a common target will be the zone of 9482 where a Wave 4 of lesser degree has endet! For this idea the 9996 is the MoB level! After that a strong push to the upside will occur.
As of yesterday! Both interpretations are possible, but in my view the correction isn`t done now!
Have a great day
rubennase
Questions and Comments are welcome! Feel free to so so...
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 the EW Theory. If you trade this it is done by your own risk and decision! Keep that in Mind!!!!