Hello Traders,
not much new to add for NIFTY50.
N50 declined to my potential stopping area at 12025 where it met the 1.618 Fibonacci Extension and may complete a „flat-correction“! The pullback since shows a gap-up and retraced near a 0.382 Fibonacci of the total decline from 12427-12025!
It is not clear, to my view, if this was all of the declines, so we have to wait for more patterns in the coming hours.
Any rise above today`s high at 12169 releases more potential for higher price 12207 and 12216 in the coming hours.
Any decline below the 12025 opens the door to 11951-119291.
Have a great week...
ruebennase
Feel free to ask or comment.
Trading this analysis is at your own risk!
not much new to add for NIFTY50.
N50 declined to my potential stopping area at 12025 where it met the 1.618 Fibonacci Extension and may complete a „flat-correction“! The pullback since shows a gap-up and retraced near a 0.382 Fibonacci of the total decline from 12427-12025!
It is not clear, to my view, if this was all of the declines, so we have to wait for more patterns in the coming hours.
Any rise above today`s high at 12169 releases more potential for higher price 12207 and 12216 in the coming hours.
Any decline below the 12025 opens the door to 11951-119291.
Have a great week...
ruebennase
Feel free to ask or comment.
Trading this analysis is at your own risk!