NIFTY50.....A false breakout?Nifty 50 IndexNSE_DLY:NIFTYruebennaseHello Traders, my forecast for the session from Monday to Tuesday worked out well! The index was not able to overcome the declining blue trendline and shows wekaness into the area of a bearisch FVG (Fair value gap)! It also touched the levels of a low volume profile. I guess that smart money could not catch all the liquidity they need to open again some bullish positions. I have adressed the areas for the low liquitity zones with the labels „VAH; VAL and POC“! From an EW-perspective it is possible to count the chart as to follow. A little uncertainty remains. While normaly one wave in an impulsive move extends, the chance for a second is given, but it would not be „normal“! It's not a rule violation, but it's still possible! If this idea play's out, the coming wave should retrace into the area of the wave ((iv))/circle around 23844 to 23785 to 23744. The lowest price target would fit well with another area of a low liquidity zone and would decline steeper than the first dive into we talked about. On the other hand.....the bulls need to overcome the declining blue trendline and make a new high on an hourly closing price at minimum! This would be the case @ 24261 and higher! Some points above that level we had establish one bullish Order blog from trading session on Monday 04th, August 2025! Note this important level! Have agreat Sunday..... Ruebennase Please ask or comment as appropriate. Trade on this analysis at your own risk