Nifty Outlook - Bullish Harmonic Pattern at 17875-17890

10:37 Hrs / 10th Nov.2021

Last @ 17947

Broke 18000-Psychological level. Short Term Trend is down. Next important Support zone -17875-17890

Harmonic PRZ (Potential Reversal Zone) -17875-17890 zone where bounce can be expected.

Upside Channel Support - 17875-17890 zone

Technically Trendline can be validated if Index drops to 17875-17890 zone & holds - if holds then we expect upside bounce else below 17875-17890 has to be reviewed back.
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Trading Strategy
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• Sell Below 17950 for 17875-17890 zone
  
  Buy in 17875-17890 zone if trendline & channel holds
  

Comment:

13:35 Hrs / 10th Nov.2021

Last @ 17999

Index hardly moved below 17950 post idea was published. Day low 17920's approx.

Crossing 18000 back - Bulls will be strong.

Thanks

Comment:

13:40 Hrs / 10th Nov.2021

Last @ 18025

Always remember Trading is tough. Going below 18000 - Don't forget the sharp reaction ( downside )of 9th Nov.2021

As a trader, you have to manage the same. You never know such moves could be part of the larger moves

Comment:

14:08 Hrs / 10th Nov.2021

Last @ 18050

Index jumps to most important resistance zone 18050-18075 which could halt upside move for a while as sharp fall on 9th Nov.2021 came close from 18070 levels yesterday.

The next upside move shall continue once it crosses above 18075 levels & holds above. Thanks

Comment:

Kindly read updates in sequence

Comment:

14:16 Hrs / 10th Nov.2021

Last @ 18047

Index halting in 18050-18075 resistance zone & drops later below 18050 level then we look for 18000 & below 18000 - next support at 17950 are the levels to be watched

In case it fails to drop below 18050 & crosses 18075 then the upside move shall continue.

Thanks

Comment:

14:59 Hrs / 10th Nov.2021

Last @ 18012

What a drop from 18050-18060 zone to 17995 close to our 1st target -18000

If Index drops again below 17995-18000 zone - It can attempt 17950-17960 zone

Comment:

15:35 Hrs / 10th Nov.2021

Last @ 18017

Picture Always Talks Better

Index in Bull Mode 18050-18075 zone ( Did not fall convincingly below 17950 or halted for a few mins only when the idea was published & selling strategy suggested below 17950)

Selling Below 18050 if Index halts in 18050-18075 zone

Comment:

10:06 Hrs / 11th Nov.2021

Last @ 17890

Manage Risk While Trading. Fall extended below 17950 - 2nd Target downside