HDFCAMC - Bearish Shark in play 5830-5930 is the PRZ

2 days ago

TF: 75 minutes
CMP: 5740

The structure is exhibiting a Bearish SHARK Harmonic pattern.

The PRZ is placed at 5850.. however, the zone is 5830-5930

One can wait for the price to reach the PRZ, monitor the price action before jumping in.

As per the pattern, the price is expected to retrace to a minimum of 50% of the CD leg, which, in this case, is placed at 5640 (assuming that we reverse from 5850)

The trendline connecting the tops also confluences around the PRZ levels mentioned.

The price is currently at the No Trade zone and hopefully a clear direction will emerge after the results are being announced.

Sharing this just to give clarity ahead of the results on what to expect.

MY INVALIDATION LEVEL IS, PRICE MOVING ABOVE 5980-6000

Disclaimer: I am not a SEBI registered Analyst and this is not a trading advise. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views. If you like my analysis and learnt something from it, please give a BOOST. Feel free to express your thoughts and questions in the comments section.

yesterday

Trade active

Price has hit 5930 and is showing signs of reversal..