BANK NIFTY BEARISH CRAB HARMONIC PATTERN

Dec 10, 2019

BEARISH CRAB HARMONIC PATTERN
XABCD:
XA - 32126 - 31123
AB - 31123 - 31535 - 38.2% OF XA
BC - 31535 31228 - 70.7% OF AB
POTENTIAL TARGETS OF "D"
127% - 31617
161.8 % - 31701
200% - 31805
224% - 31869
SL - 31120
RISK - 180 POINTS
REWARD: 350 POINTS ++

Dec 11, 2019

Note

Bank Nifty registered a Low of 31127.5 very close to the SL of 31120. For the pattern to be valid the SL must hold, if it breaks, then the next SUPPORT level to watch would be 31069 - 113% of the leg 31123 - 31535.
Then the pattern would be a Bearish Shark with Labels as follows:
OX - 32126 - 31123
XA - 31123 - 31535 - 38.2% OF XA
AB - 31535 - 31069 113% OF AB