Hello Traders,
the NIFTY50 has extended my cited price area to ~24620 range. It was exactly @ 24589.15 points!
Here, a wave iii (blue) ended!
Chart analysis:
If this was all of waves (5) of iii (blue), the next move could be a wave iv (blue) to around the range of 23709 to 23845.15 zone! This one should morph into an a-b-c correction, or a triangle. While triangles are the most often failed chart patterns during a wave iv of any degree is, we will focus on the a-b-c correction!
So, one higher high is still missing, but I guess the next high will be just a wave ((i)) of v (blue) with more highs to come!
As I am in a hurry, only a short update today. I'll try to publish another update by Wednesday.
Have a great Sunday.....
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.