Hello Traders,
NIFTY50 has broke to the downside this morning; has cracked the support line (black) @17485 zone and was in a „free-fall“ since!
So, what are the next areas to watch?
Basically, I have recommended the sideline yesterday. This advice was true!
And this is, what I recommend for the next days. Let the market „balance“/equalize at the next days.
A massive „shake-out „ is underway!
I won't give any detailed price range for the next days, but at the downside the level of ~16850 is one „that caught my eye“! More bearish potential exist!
On the bullish side, any pop as on the rubber band is possible!
If the high at 18350 was a wave ((B)), the door is open to 16410 and below. If the high was a wave ((X)) high, it will end above this level as a wave ((Y))!
Turn the sideline! Be patient! Watch the chart and learn!
Have a great and successful week!
Safe your money!
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
NIFTY50 has broke to the downside this morning; has cracked the support line (black) @17485 zone and was in a „free-fall“ since!
So, what are the next areas to watch?
Basically, I have recommended the sideline yesterday. This advice was true!
And this is, what I recommend for the next days. Let the market „balance“/equalize at the next days.
A massive „shake-out „ is underway!
I won't give any detailed price range for the next days, but at the downside the level of ~16850 is one „that caught my eye“! More bearish potential exist!
On the bullish side, any pop as on the rubber band is possible!
If the high at 18350 was a wave ((B)), the door is open to 16410 and below. If the high was a wave ((X)) high, it will end above this level as a wave ((Y))!
Turn the sideline! Be patient! Watch the chart and learn!
Have a great and successful week!
Safe your money!
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!