Hello Traders, at the end of latter week, we had the same price level as now! So, a "non-event-week" passing by, and the question is:"was this all of the advance, and bears will take over the market? NIFTY50 has run to my cited price area as I mentioned since many analyses. The high @ 18267 could be all of it, and a corrective setback, that will retrace a good portion of the advance, could be next! A decline below 17950 could be a starting point for this scenario and open the door to 17863-175xx range. Here a wave (iv) of one lower wave-degree was counted! More bearish potential exist! An alternate view for the count could be, that we have seen a double 1-2 in progress, means the green wave (iii) and (iv) was another waves i and ii! In this case, the bulls will push the market to much higher levels as seen before! For this idea, I need to see more evidence as volume, gap-up`s and a series of advancing days at the next 1–2 weeks! For now, you are prepared for what could be next! Stay tuned, and have a great week.....
Ruebennase
Feel free to ask or comment! Trading this analysis is at your own risk!