Hello Traders,
by counting the NIFTY50 (Today`s session is still running) the targets were achieved as you can see on the chart! NIFTY50 meet the downside target at 9777 and overfullfiled the expectation at 9845.77 for a Wave c of 2! This low at 9777 had the 2.0 length of Wave a and I `m still observing to switch the count from correcting view to Impulsiv down because of the length of Wave c! Mostly a Wave c has the 1.618 distance of a Wave a within a ZigZag pattern. It is allowed to stretch a longer distance and I will observe the coming hours to a five Wave advance to the upside to stay with an a-b-c Count.
The RSI (14) dropped into the oversold area and is still reversing during that Tradinghour. We have to watch the NIFTY closely and as long as the structure is not clear for a five Wave advance to the upside I will keep my position neutral!
Have a great (rainy) day....
rubennase
Comments and Questions welcome!
Disclaimer*
All ideas published here involve risk and does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
by counting the NIFTY50 (Today`s session is still running) the targets were achieved as you can see on the chart! NIFTY50 meet the downside target at 9777 and overfullfiled the expectation at 9845.77 for a Wave c of 2! This low at 9777 had the 2.0 length of Wave a and I `m still observing to switch the count from correcting view to Impulsiv down because of the length of Wave c! Mostly a Wave c has the 1.618 distance of a Wave a within a ZigZag pattern. It is allowed to stretch a longer distance and I will observe the coming hours to a five Wave advance to the upside to stay with an a-b-c Count.
The RSI (14) dropped into the oversold area and is still reversing during that Tradinghour. We have to watch the NIFTY closely and as long as the structure is not clear for a five Wave advance to the upside I will keep my position neutral!
Have a great (rainy) day....
rubennase
Comments and Questions welcome!
Disclaimer*
All ideas published here involve risk and does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.