Hello everyone,
Greetings of the day..
Sharing Banknifty chart on day time frame.
There you can see 2 harmonics pattern.
XABCD giving a target of 42220-230 and
ABCD giving target of around 42500.
Important learning points:
In a XABCD pattern point D with 1.13 level is a strong PRZ (price reversal zone).
In a ABCD pattern if B has retraced to around 50%...then D should be at 2.0 which is again a PRZ point.
So let's see where it actually stops it massive upside run for last one month or so....
Interesting to see how market changes so quickly....
Keep learning
Greetings of the day..
Sharing Banknifty chart on day time frame.
There you can see 2 harmonics pattern.
XABCD giving a target of 42220-230 and
ABCD giving target of around 42500.
Important learning points:
In a XABCD pattern point D with 1.13 level is a strong PRZ (price reversal zone).
In a ABCD pattern if B has retraced to around 50%...then D should be at 2.0 which is again a PRZ point.
So let's see where it actually stops it massive upside run for last one month or so....
Interesting to see how market changes so quickly....
Keep learning