ruebennase

ruebennase Updated 

Hello Traders, Something really interesting happened this morning! A "Morning Star" occurred, and it was "created" by the candles from Friday the 24th to Tuesday the 28th! A morning star is made up of three candles. The first day could be bearish, the second day is lower than the previous day and ideally it is a bearish day as well. The next day needs a gap to the...

ruebennase

Hello Traders, my long term forecasted target area comes into focus! Round about 1000 points lower and we will hit the target. If so to come, at this point we can check out for a reversal at the chart! But; step after step! I'am following the idea of a w-x-y wave to be established, and if so, we trading downwards within a wave 3 of 5 of x! Waves 4 more often...

ruebennase

Hello Traders, the NIFTY50 has declined to 22976.85 on Monday 20th! It formed a "Hammer-candle" on January 21th! From a technical perspective, this low wasn't lower than the one on Januar 20th! So handle with patient. A trade is thinkable, but it is not my favorite, 'cause we are clear in a down trend. So I would feel better to rise above the 23426 level to make...

ruebennase

Hello Traders, the NIFTY50 is on track with my predicted scenario! It fell to 23047 on Monday and the recovery since is weak! So, I expect several lower lows in the coming week and a possible target range at or around 221xx area! A buying opportunity is given above the range of 24188 to 24226 to establish a brand new buy signal! The next wave, if so to come, could...

ruebennase

Hello Traders, as before; the NIFTY50 shows weakness again and I think, there is more pressure to come. If N50 will decline below the level of 23349 to 23263 (daily timeframe ), the door is open to much lower levels in the coming weeks ahead! Reallly often, some indices are showing a "three-down" while getting weak. More often than not, waves c=a in price. So the...

ruebennase

Hello Traders, the NIFTY50 plunged to 23460 on December 31th! The recovery than has brought the N50 back to 24226 on January 2nd. This could be a wave 2 of c! From this perspective, the forecast is inline with my expectation. So, the next move could be a wave 3 of c down to fresh new lows in the days ahead. Keep in mind! C-waves are almost the strongest waves...

ruebennase

Hello Traders, the NIFTY50 isn`t done yet! This is the main meaning! A drop below the 23263 level , on an hourly baisi at minimum, opens the door to lower levels! One formidable price target should be around 218xx to 22670 range. Lower targets exist. Recall! Waves four of every degree always come back to a wave four of lower degrees. In this case, the chance has...

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...