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 ++
Comment
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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