Hello Traders,
NIFTY50 has achieved my target range at 13765.50. The daily high was at 13777.50.
After, it broke to the downside and touched the middle line of the trend channel, as forecasted (daily).
This drop could be a wave (iv) or it is a wave a of (iv) that could be close to end in the coming hours!
The slope of the decline let me argue, that it could be a wave a of a Zigzag pattern in progress. So, after a sharp and short countertrend to the upside within a wave iv, the next wave of decline could be wave v of a to complete the first leg of decline.
One of some more ideas of the top at 13777.50 could be, that a wave ((i)) has endet and a wave ((ii)) is underway.
We will see in the coming hours and days which pattern should develop!
Have a great week....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY50 has achieved my target range at 13765.50. The daily high was at 13777.50.
After, it broke to the downside and touched the middle line of the trend channel, as forecasted (daily).
This drop could be a wave (iv) or it is a wave a of (iv) that could be close to end in the coming hours!
The slope of the decline let me argue, that it could be a wave a of a Zigzag pattern in progress. So, after a sharp and short countertrend to the upside within a wave iv, the next wave of decline could be wave v of a to complete the first leg of decline.
One of some more ideas of the top at 13777.50 could be, that a wave ((i)) has endet and a wave ((ii)) is underway.
We will see in the coming hours and days which pattern should develop!
Have a great week....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!