Hello Traders,
NIFTY50 was still declining that tradingday and close the session @ 1010303.15 (-47 points)! A/D-Ratio was much solid than it was yesterday at 0.96.
Todays low at 10285.55 was set near the 0.23 RT from the advance that start at Sept. 28 and is close to finished the first leg of an a-b-c correction. May one more up-down sequence is needed to complete, after that a countertrend in a wave b is my favored count and view.
So a countertrend has a pricetarget at ~ 10380!
Targets and price levels are still valid as of yesterday and the running correction still need time and price to develop!
The alternate count is that we`re in a wave c which started yesterday after completing a wave b of an „expanding flat“ and a wave c is still to develop with targets at minimum at 9685 area!
In terms of time the supposedly wave „b“ took 0.628 of time as need wave „a! So I think wave b and c together will need the same time that wave „a“ took to complete! We will see..
At higher timeframes we are still running in a wave 2 of (iii) of 3 or we are in awave 2 of (iii) of 5!
Have a great day
ruebennase
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 NSEIndia.com and moneycontrol.com!
NIFTY50 was still declining that tradingday and close the session @ 1010303.15 (-47 points)! A/D-Ratio was much solid than it was yesterday at 0.96.
Todays low at 10285.55 was set near the 0.23 RT from the advance that start at Sept. 28 and is close to finished the first leg of an a-b-c correction. May one more up-down sequence is needed to complete, after that a countertrend in a wave b is my favored count and view.
So a countertrend has a pricetarget at ~ 10380!
Targets and price levels are still valid as of yesterday and the running correction still need time and price to develop!
The alternate count is that we`re in a wave c which started yesterday after completing a wave b of an „expanding flat“ and a wave c is still to develop with targets at minimum at 9685 area!
In terms of time the supposedly wave „b“ took 0.628 of time as need wave „a! So I think wave b and c together will need the same time that wave „a“ took to complete! We will see..
At higher timeframes we are still running in a wave 2 of (iii) of 3 or we are in awave 2 of (iii) of 5!
Have a great day
ruebennase
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 NSEIndia.com and moneycontrol.com!