ruebennase

ruebennase

Hello Traders, the NIFTY50 extend his gains to 24857 on December 05th! After, a sharp decline to 23537 occurr. This move took the shap of a flat in progress, and if so to come, the next move would be to the upside. Targets remain from 24537 to 25234 area. Note the detailed count. The advance from the December 5th low is three waves and so a wave w! The decline is...

ruebennase

Hello Traders, the NIFTY50 failed to rise above Thursday`s top @ 24857 and fell straight down 24149.85 this morning. As per my weekend edition, the index still has two options. If the high @ 24857 was a double wave 1 and 2, the low @ 23873 has to remain valid for this scenario. A decline below that level eliminates the first option. Breaking below that level,...

ruebennase

Hello Traders, The NIFFT50 made a low on the 21st of November at 23262! Since then it has been moving within a "three-up" or double wave 1 and 2! In the first case, the next move should be to the downside, developing a wave c/y to lows below 23263 for the next 2-3 weeks. A good indication of such a move is a break of 23873. A possible price range for such a move...

ruebennase

Hello Traders, the NIFTY50 has moved to 24857.75 on Thursday December 5th. The move to this level has been not expected to me, but it overcome the 0.786 Fibonacci of the latest decline from 24234. This higher the facts, that the decline was done @ the low at 23263! Notice, that @ 24990 the advance from 23263 will be equal in length (a=c)! So at this level, a...

ruebennase

Hello Traders, the NIFTY50 has declined to 23263 on Thursday and my forecast ("...one more lower low") played out well! The decline since the ATH is to count as a "five down" and Friday's price action seems to mark the end of the weakening phase and a pullback has begun!? If so, a first target range is around the 24484 to 24537 range with more bullish potential...

ruebennase

Hello Traders, the NIFTY50 has plunged to 23484 at the low, and 23532 on a closing basis! Thursday's candle, which was bearish, closed at 23509. Friday's open was at 23542. If Monday's candle will opens with a gap to the upside, the stage will be set for a "Morning star", a bullish Candlestick formation. We will wait for Monday and see how the candlestick turn out...

ruebennase

Hello Traders, The NIFTY50 probably made a significant low @23816 on the 4th of November! It touches my favourite price range from 23893 to 23140. The "advance" since the low @ 23816 shows an impulsive structure, and the weakness afterwards is traced back to a 0.618 Fibonacci of the advance. The stage can be set for another leg to the upside. Target area around...

ruebennase

Hello Traders, The NIFTY50 is more or less trading in a sideways range between 24073 and 24500. It has not reached the descending trend line (blue) drawn on the chart. It needs to break this line to the upside in order to bring fresh buying interest into the market and break the gray trend line around the 246xx area. Depending on if and when this happens, the next...

ruebennase

Hello traders, The hammer candle on Friday the 24th turned out to be a "failed" buy signal. The price touched the declining trend line on Monday's open and reversed (1 on our chart). In the following hours, the price fell below the support line and dropped to 24073.90 on Friday the 24th! A possible wave a of 2 has been established here. There is still another open...

ruebennase

Hello Traders, The NIFTY50 fell to 24660.25 on Friday, showing a "gap down"! This gap was closed with a hammer candle, a strong buy signal as long as the low of the hammer holds! It also bounced back to the lower trend line for the 3rd time, showing a good recovery from the lows. There is resistance at or around 24850 and a move around this area opens the door to...

ruebennase

Hello Traders, the NIFTY50 is moving sideways from 25234 to 24908 in sum! It shows the pattern of a bull-flag, what often turns into a move to the upside. So to say, a "continuation pattern". If so to come, the next move is to the upside, as I wrote before. Switch to the 1-hour chart also confirms the "3-down". Again; if so to come, one possible price range for...

ruebennase

Hello Traders, The NIFTY50 has made a low at 24694. Since this level we have seen a counter-trend move (against the larger direction) to 25234. This level was just below my first possible target @ 25287 and turned out to be wave a of b of iv! After this move, the price fell to 24920 and retraced below the 0.5 Fibonacci. As can be seen on the chart, the price...

ruebennase

Hello Traders, The NIFTY50 has reached my first target at the 248xx level. Check out my latest analysis. The price target is at a wave 4 level of one degree lower. This can be a wave iv or a wave a of iv as I wrote before. If it was a wave iv, the next move will take the N50 back to a new ATH! If it was a wave a of iv, the next move should be against the trend and...

ruebennase

Hello traders, Back from injury....! My analysis for the NIFTY50 played out and it is climbing to a new ATH @ 26277! After reaching this level, the index is in a sharp corrective move within a wave iv or a of iv. This means that a final ATH is missing and will be established by the end of the year. This is my assumption. On the daily timeframe the structure is...

ruebennase

Hello traders, On September 01, I wrote that a higher high was still to come. And exactly that happened on the next trading day, the 02. September! 25433 was the level! As a reminder! On 28. July I announced a possible target in the area of 25359. This target was reached on Friday! And more! It was exceeded again by my analysis! After reaching this level, a...

ruebennase

Hello Traders, The NIFTY50 has closed the open gap @ 25004 points as argued in my latest analysis. As a result, a new ATH has been established at 25268.35. There is a chance that this high is wave ((5)) of iii and a corrective move can be next in the coming week. If so, a price level for this idea is around 23893 to 21281! But moving from weekly to daily time...

ruebennase

Hello Traders, The NIFTY50 has bounced back from the "Monday crash" two weeks ago! It has rallied to a 0.786 Fibonacci from the decline and is pricing in the next "gap" level that has been left open from 25004-24858. As you know, gaps often act as a "magnet" and the market will close them. So, this is one of the arguments what can happen in the next session on...

ruebennase

Hello Traders, the NIFTY50 is moving sideways since Tuesday, without any clear evidence to one or the other direction. My count ideas are still possible to describe! Either we see a wave 4 in progress or it probably ended @24419 (the wave ((c)) of 4 idea), or the sideways consolidation morph into a wave d and e to follow? Means, we still see a higher low above...