Hello Traders,
sometimes, a (free) climber goes off the cliff. Tragic; but not rare and unusual.
This is, what happened today to NIFTY50 as predicted in my latter analysis. One of the leading India indexes collapse after the FED's rate decision, and the move following announcing this, was a big „fake“!
I have counted the chart as per my analysis yesterday as a waves (5) of ((3)) - which is in progress - to new 52-weeks low (notice the green trend line)!
For today's analysis, I have to switch to the 60 minutes time frame; sorry for any confusion to you if happening, but we have to deeply dive into the structure of the developing waves to find answers.
As per my counts, N50 is heading lower to possibly 15k in the coming days ahead.
Shorthand, the index should achieve this price target on Friday or on Monday/Tuesday, and after, it should show a „pullback“ to the range of or around the 15600 range. Well; we will see!
The bigger chart picture is damaged, and 146xx is in range! This price target is to observe at the hourly chart and equals waves y=w (green), what I announced in yesterday's analysis!
So, no good news and no bullish forecast for N50.
Before I call a „bottom“ for N50, I'd like to see more panic by traders and investors. This is to my view not yet the case.
Have a great day.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
sometimes, a (free) climber goes off the cliff. Tragic; but not rare and unusual.
This is, what happened today to NIFTY50 as predicted in my latter analysis. One of the leading India indexes collapse after the FED's rate decision, and the move following announcing this, was a big „fake“!
I have counted the chart as per my analysis yesterday as a waves (5) of ((3)) - which is in progress - to new 52-weeks low (notice the green trend line)!
For today's analysis, I have to switch to the 60 minutes time frame; sorry for any confusion to you if happening, but we have to deeply dive into the structure of the developing waves to find answers.
As per my counts, N50 is heading lower to possibly 15k in the coming days ahead.
Shorthand, the index should achieve this price target on Friday or on Monday/Tuesday, and after, it should show a „pullback“ to the range of or around the 15600 range. Well; we will see!
The bigger chart picture is damaged, and 146xx is in range! This price target is to observe at the hourly chart and equals waves y=w (green), what I announced in yesterday's analysis!
So, no good news and no bullish forecast for N50.
Before I call a „bottom“ for N50, I'd like to see more panic by traders and investors. This is to my view not yet the case.
Have a great day.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is 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.