kbmj
Education

Bank Nifty : Why did it fall 3% From Highs of 30008 (Harmonics)

NSE:BANKNIFTY   NIFTY BANK
Dear All At Tradingview ,

I hope you all are learning from my charts .

This time , I have mentioned the reason of fall in Bank Nifty & Why did it rise from Lows of 24240 formed in October .

Answer is ABCD Patterns . Ask any query on comment box or DM me .

Some Basics of ABCD Pattern :

The AB=CD pattern is a 4-point price structure where the initial price segment is partially retraced and followed by an equidistant move from the completion of the pullback.

In the AB=CD , the C point will be a defining level for the completion of the pattern. Although the BC projection is critical in this structure, the most significant harmonic number is the exact completion point of the AB=CD .

Hope You will like My Idea ; Hit Like Button for Supporting & Comment your view in Comments Section .

Disclosure : I am not A SEBI Registered Technical Analyst !

Regards ,

Mohit Jangir (KBMJ)

Happy Trading !!!

@Parasuram Sir , What's your opinion ? Will we get a pullback from here ?
Reply
@kbmj, i doubt... it may go down only
+1 Reply
kbmj Parasuram
@Parasuram, Okay Sir :)
Reply
@kbmj, As I had told you earlier, we will have to watch whether the fall extends beyond 2-3 days.. then it might last for 6-8 days.
+1 Reply
kbmj Parasuram
@Parasuram, Yes Sir ; I remember :)
Reply
@Parasuram, it was simple candlestick which was suggesting a upmove today
+1 Reply
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