Hello Traders,
The NIFTY50 has shown breake out of the trendchannel vs triangle structure! It has risen to my cited target area @ 25260 to 25300 points and overcome the targets as well!
Another goal!
Chart analysis:
The ATH @ 26277 points will be the next target, and as I wrote many times, this will be not the end of the structure. I will refrain from mentioning any further goals for the time being.
So, the next move should lead N50 to new ATH`s well above the 26277 range. The potential is given for another long-term wave!
On the downside there is, not so much, potential for a corrective move. While the structure doesn't look complete, I think for at maximum downside potential to 23935 area! It should come, but not yet!
More often than not, the diverging trend lines, possibly created by the triangle structure, will be touched again in the next 1-2 weeks! Well, we will see if so to come, and if...we will judge again!
Caused by a busy weekend, this should be all for today!
Have a great week.....
Ruebennase
Please ask or comment as appropriate.
Trade on this analysis at your own risk.
The NIFTY50 has shown breake out of the trendchannel vs triangle structure! It has risen to my cited target area @ 25260 to 25300 points and overcome the targets as well!
Another goal!
Chart analysis:
The ATH @ 26277 points will be the next target, and as I wrote many times, this will be not the end of the structure. I will refrain from mentioning any further goals for the time being.
So, the next move should lead N50 to new ATH`s well above the 26277 range. The potential is given for another long-term wave!
On the downside there is, not so much, potential for a corrective move. While the structure doesn't look complete, I think for at maximum downside potential to 23935 area! It should come, but not yet!
More often than not, the diverging trend lines, possibly created by the triangle structure, will be touched again in the next 1-2 weeks! Well, we will see if so to come, and if...we will judge again!
Caused by a busy weekend, this should be all for today!
Have a great week.....
Ruebennase
Please ask or comment as appropriate.
Trade on this analysis at your own risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.