Hello Traders,
todays session brought a new ATH -0.99% on a closing (10531.5) and Intraday basis @ 10545.45. Both occured with a strong a/d-Ratio @ 3.6! Keep in mind, as I told you before, that often the strongest a/d-Ratios occur at the end of an advance, no matter which degree we`re trading and counting. Observe the chart, were I have left some marks to check strong Ratio`s at the end of an advance, like it happend at Sept. 18 (3.25; EoD -0.33% ) and even Dec. 14 and 15, the following Day after the Election. December 15 start with a weak a/d-Ratio at opening session and increase after the low for the rest of the day.
So we have to watch this precious Ratio as one of many I observe!
Back to the Chart. As you can observe I have marked the former ATH -0.99% @ 10490/10494 from Nov. 06 and Dec. 20 with the red dotted line. Yesterday I wrote that I do expect a „false-breakout“ and a sharp reversal to the downside there after. Well, maybe the false breakout did occur today, a solid close below the red dottet trendline tomorrow will be a first sign that the breakout has occured too . A second one will be a weakening a/d-Ratio tomorrow and in unison declining Markets with an increasing volume . One characteristic sign for a corrective advance is, that we can watch overlapping, choppy waves, as I labbeld two patterns at chart with the blue arrows.
So, as I wrote yesterday, I favor the idea of a wave b move and a wave c move to the downside just around the corner.
If NIFTY50 is just advancing for the rest of the week, some other patterns are on the move whichI will have to monitor closly. One possible target is just at @ 10700 zone, where prices are able to meet the upper boundary line of the red trendline .
My standart Indicators as they are RSI (14) and RoC (21) are showing weakening movements at forefront while VIX 3.54% is trending up to 12.15 by closing bell.
So, we will see what`s next at Markets..
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!
todays session brought a new ATH -0.99% on a closing (10531.5) and Intraday basis @ 10545.45. Both occured with a strong a/d-Ratio @ 3.6! Keep in mind, as I told you before, that often the strongest a/d-Ratios occur at the end of an advance, no matter which degree we`re trading and counting. Observe the chart, were I have left some marks to check strong Ratio`s at the end of an advance, like it happend at Sept. 18 (3.25; EoD -0.33% ) and even Dec. 14 and 15, the following Day after the Election. December 15 start with a weak a/d-Ratio at opening session and increase after the low for the rest of the day.
So we have to watch this precious Ratio as one of many I observe!
Back to the Chart. As you can observe I have marked the former ATH -0.99% @ 10490/10494 from Nov. 06 and Dec. 20 with the red dotted line. Yesterday I wrote that I do expect a „false-breakout“ and a sharp reversal to the downside there after. Well, maybe the false breakout did occur today, a solid close below the red dottet trendline tomorrow will be a first sign that the breakout has occured too . A second one will be a weakening a/d-Ratio tomorrow and in unison declining Markets with an increasing volume . One characteristic sign for a corrective advance is, that we can watch overlapping, choppy waves, as I labbeld two patterns at chart with the blue arrows.
So, as I wrote yesterday, I favor the idea of a wave b move and a wave c move to the downside just around the corner.
If NIFTY50 is just advancing for the rest of the week, some other patterns are on the move whichI will have to monitor closly. One possible target is just at @ 10700 zone, where prices are able to meet the upper boundary line of the red trendline .
My standart Indicators as they are RSI (14) and RoC (21) are showing weakening movements at forefront while VIX 3.54% is trending up to 12.15 by closing bell.
So, we will see what`s next at Markets..
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!