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Dinesh_C_Nagpal

CNX Financial

Short
Nifty Financial Services Index (NSE:CNXFINANCE)  
Dinesh_C_Nagpal Updated   
NSE:CNXFINANCE   Nifty Financial Services Index
Harmonic Patterns Trend Analysis Technical Indicators CNXFINANCE financialstocks nbfc bankingsector insurancestocks Alternate Bat harmonictraders harmonicmoves harmonicsignals
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harmonicpatterns trendanalysis indicator cnxfinance financialstocks nbfc bankingsector insurancestocks alternatebat harmonictraders harmonicmoves harmonicsignals
The introduction of the index into derivatives has come with a Bearish Alt Bat Harmonic pattern formed in Weekly Time Frame. A daily close below 15475 could lead to long unwinding that might make the index retest 15000 / 14000. The view would be negated if it breaks above 15700 on hourly closing basis (after activating a down move)
Comment:
Failure to hold 15300 would not be good for it in the short term
Comment:
Minimum expected retracement done today. Sustaining below 15000 on daily closing basis could take it to 14600
Comment:
snapshot
It completed 2nd expected level of 14600 and gave an hourly Bullish Harmonic Bat reversal
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