Hello Traders,
NIFTY50 has achieved my target range @ 16752.25 (peak)! This level could be waves ((3)).
If so, the next moves will have a „corrective“ character and should retrace close to a 0.382 Fibo of waves ((3))! An appropriate target area is at or around 16404.90-16383.55! From these levels, a wave ((v)) should start, that develop into waves (1)-(2)-(3)-(4)-(5)! This would complete the advance, that started @ 15183 on June 17, 2022!
But if this high @ 16752 was not „the“ waves ((3)), just being waves (3) of ((3)), N50 can run to 17101.55 in the coming days!
At this level, we have to measure once again.
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY50 has achieved my target range @ 16752.25 (peak)! This level could be waves ((3)).
If so, the next moves will have a „corrective“ character and should retrace close to a 0.382 Fibo of waves ((3))! An appropriate target area is at or around 16404.90-16383.55! From these levels, a wave ((v)) should start, that develop into waves (1)-(2)-(3)-(4)-(5)! This would complete the advance, that started @ 15183 on June 17, 2022!
But if this high @ 16752 was not „the“ waves ((3)), just being waves (3) of ((3)), N50 can run to 17101.55 in the coming days!
At this level, we have to measure once again.
Have a great weekend.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!