Hello Traders, NIFTY50 has tumbled ~200 points below my cited target range. It fell to 15782 and possibly ended a wave z of iv, or it ended a wave 2 of Minor degree. In both cases, trend will change immediately and strong to the upside! The future has given an idea for Monday; it reversed to the upside. So, a strong opening on Monday (gap-up) can push N50 quickly to 16160 range, with more bullish potential ahead. But be patient! If this is the start of a new impulsive move, the pullback will be sharp and strong! Anyway. A break of the low @ 15711 will open the gates to 15511-15431 area! In extension, it can decline to ~15075.
Have a great Sunday..... Ruebennase
Feel free to ask or comment! Trading this analysis is at your own risk!
Hi, pierced through 16160 with more bullish potential as you rightly said. Pullback next ?
ruebennase
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@Raahuls, Hi, it did not look so right now! No reason to short, stay long Sith stoploss below days low...
Raahuls
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thanks
ankush1512
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great work
contactshrish
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Thank you so much for your sincere efforts and analysis. i have been noticing it for last one month only but levels given by you are exactly the same. although i am not that competent enough to praise you or compliment you for your knowledge and skills.but still hats off to you for your research and analysis. i do hereby consider you as my mentor in capital market.thank you so much for your sincere approach towards educating us.
Raahuls
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Thanks for your analysis as always. Price could pull back to what level (making a higher low or a W pattern)?
ruebennase
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@Raahuls, Hi, wait for a peak up. Watch the pullback, so to come, than we analyse. This is how we do it....