Hello Traders,
NIFTY50 is subdividing higher, closed the week @ 11613.
The move since 11311.60, a potenially wave ((c)) of iv, is possible to count as wave v of ((c)) (Minute) of B (Minor), which is not done for now!
That means this wave is still making new higher highs, short-term, and exceed the high at 11629.55!
Any decline below the wave ((iv)) low @ 11413 will strenghten the case, that a top is in place and a correction has start.
I show you a possible wave count at the graph below, that indicate the end of the advance which has started at 10585.60, Feb,19,2019!
An alternate possibility is, that on the longer timeframe a double 1-2 has developed and the start of a wave 3 of higher degree seems possibly next.
Have a great week...
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!
NIFTY50 is subdividing higher, closed the week @ 11613.
The move since 11311.60, a potenially wave ((c)) of iv, is possible to count as wave v of ((c)) (Minute) of B (Minor), which is not done for now!
That means this wave is still making new higher highs, short-term, and exceed the high at 11629.55!
Any decline below the wave ((iv)) low @ 11413 will strenghten the case, that a top is in place and a correction has start.
I show you a possible wave count at the graph below, that indicate the end of the advance which has started at 10585.60, Feb,19,2019!
An alternate possibility is, that on the longer timeframe a double 1-2 has developed and the start of a wave 3 of higher degree seems possibly next.
Have a great week...
ruebennase
Feel free to ask or comment.
Trading this analyze is at your own risk!