NIFTY50.....Impulsive vs corrective? The facts!Nifty 50 IndexNSE:NIFTYruebennaseHello Traders, the NIFTY50 closed the week with a gain of213 points or 0.85%! So the structure of the waves has become more clear as it has been in previous weeks. I have switched my count from corrective to impulsive, and with the "tailwind" of the rate cut by the FED, the market will become clearer for the coming weeks. Chart analysis: Probably a wave (iii), orange, has ended and a wave 4 of the same degree should start soon. One price target is around the blue rectangle at 25122–24990 points. A wide range, but that's the fact. I expect a possible wave (iv), orange, to end above the higher range and reverse and start a wave (iv), orange to end a wave (iii), green. For now, the structure looks like a "three-up", but I have counted the movements as a double waves 1-2. This means, one of these wave is about to extend the range. A new ATH is possible, but not guaranteed. To the downside, there is a potential to drop to the second blue rectangle, ranging from 24473-24348. Between both two ranges, there is no "meat, no fish" as the Germans said! To speak in general: A rise above the 25670 area has the potential to create a new ATH, a drop to 23450 area has the potential to crash the downside. A decline to or around the 23900 area is possible. Please ask or comment as appropriate. Trade on this analysis at your own risk.