nirmalmishra
Long

Bullish Cypher in DHFL ?

NSE:DHFL   DEWAN HOUSING FIN
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It seems that Bullish Cypher harmonic Pattern (which is highly reliable and accurate) is under formation in DHFL . Leg XA, AB, BC has been formed and Leg CD is under formation. If the prices touches and reverse from 220 ( Potential D point, which is at 0.786 retracement of XA) , it would validate the pattern. If price goes below the 220, it would invalidate the pattern.
On 19th December, DHFL has given a breakout and given a good up-move. Expecting it it continue the Up_move after reversing from point D.

Declaimer : This analysis is for education purpose only.
Jan 16
Comment: Pattern is valid as the stock has completed the CD leg as predicted.

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