Hello Traders,
I wish everyone a happy, peaceful new year. Stay healthy!
NIFTY50 has made a wave (iv) low at 13129.05 on December 21! It has risen since to a new ATH at 14049.85. This move may have complete an 1-2-3-4-5 impulse, or it is wave i of (v)!
The Mob (make or break) level for a wave i is at 13196.75!
If it was a wave i, the corrective setback within a wave ii should run to 13691-13582.90-13474-95, all are Fibonacci levels!
An alternate interpretation is, that the low on December 21 was a wave an of an expanding- or running-flat, which is still in progress and is close to complete or has complete a wave b of the flat.
As you know, within a wave 4 on every degree, a triangle could be possible too. But for this it is too early to judge!
I will keep on track in the coming hours and days and update the count!
Have a great time....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
I wish everyone a happy, peaceful new year. Stay healthy!
NIFTY50 has made a wave (iv) low at 13129.05 on December 21! It has risen since to a new ATH at 14049.85. This move may have complete an 1-2-3-4-5 impulse, or it is wave i of (v)!
The Mob (make or break) level for a wave i is at 13196.75!
If it was a wave i, the corrective setback within a wave ii should run to 13691-13582.90-13474-95, all are Fibonacci levels!
An alternate interpretation is, that the low on December 21 was a wave an of an expanding- or running-flat, which is still in progress and is close to complete or has complete a wave b of the flat.
As you know, within a wave 4 on every degree, a triangle could be possible too. But for this it is too early to judge!
I will keep on track in the coming hours and days and update the count!
Have a great time....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!