NIFTY50.....Kiss to say good-bye?Franklin LibertyShares ICAV - FTSE India UCITS ETFXETR_DLY:FLXIruebennase Hello Traders, today I show you the ETF „FLXI“ that has been designed to trade the NIFTY50. This ETF has broken the lower boundary of the red trendline I have drawn at the chart and pulled back to the underside of it. This probably can be the „kiss to say good-by“ and N50 is ready to collapse in the cominig sessions. Below the red candle from Monday 24th I have wrote the possible „BoS“ (Break of structure)! This is a first sign that the trend has reversed to the downside in this case. It pulled back for some days, and as long as NIFTY50 is not able to push above the level of €36.06 on a daily closing price the path is focused to the downside One member argued that a trinagle coould be underway. This is an important hint for another idea that can be possible. But to my view, a triangle is a pattern really difficult to count and is a rare pattern as well. But of course, the opportunity is given. Thanks for this view I haven't at my cards! So, if the bears take control for the coming sessions a break of the low on Monday 24th below €35.47 on a daily closing price the door is open for more weakness. I have announced my favored price targets but it is to early to judge.Of course, one target is around the area of €35.17 and €34.85! The bulls need to take controll above the area of € 36.06 ad take controll at the zone called „Equilibrium“ that shows a 50% retracement Fibo level! From this area on a retest of the upper red trendline @ the €37.- price area, depending on when and if it would be touched, is to favor. The NIFTY50 itself is not that clear at the structure as the ETF is! So that's why I have choosen this ETF! Let my know if all of you are able to illustrade this ETF? That's it today for you my friends. Have a great week..... Ruebennase Please ask or comment as appropriate. Trade on this analysis at your own risk