Hello Traders,
the past two tradingdays was not really much new to add. By the close of today Nifty open at 9945.85, set a high at 9964.85 and a low @9917.20. Daily close was set at 9913.20 with a a/d Ratio at 1.318 (29/22/0)! As of the past days the two short term important levels are right in place, which are the 9988.40 to the upside and the 9783.75 to the downside. Both are key levels and if one of them will exceed it would imply that a breakout long or an ongoing decline is on the way.
As to observe on a daily basis the gaps which occur alternate between up- and downside, overall we`re still in a sideways move, which is best to see on the daily or the weekly timeframe. In my view it takes some more up- down sequences to complete the pattern and as long this pattern is to build, traders have to step to the side and only watch the market to become a clearer view.
Have a great day
rubennase
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 NSE!
the past two tradingdays was not really much new to add. By the close of today Nifty open at 9945.85, set a high at 9964.85 and a low @9917.20. Daily close was set at 9913.20 with a a/d Ratio at 1.318 (29/22/0)! As of the past days the two short term important levels are right in place, which are the 9988.40 to the upside and the 9783.75 to the downside. Both are key levels and if one of them will exceed it would imply that a breakout long or an ongoing decline is on the way.
As to observe on a daily basis the gaps which occur alternate between up- and downside, overall we`re still in a sideways move, which is best to see on the daily or the weekly timeframe. In my view it takes some more up- down sequences to complete the pattern and as long this pattern is to build, traders have to step to the side and only watch the market to become a clearer view.
Have a great day
rubennase
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 NSE!