WaveTalks- Nifty: Bullish Gartley PRZ 17450-17475 (Target-17740)

H.M. Gartley's most trusted harmonic pattern - Bullish Gartley could be right there in the zone 17450-17475 which is assumed to be potential reversal zone.


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Target
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1st Target upside - 50 Period Moving Average = 17675

2nd Target upside- 17740 - where fall started on expiry day @ 30th Sep2021


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Stop Loss ( Avoid trading )
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As a trader you should always know where you can go wrong. In current case - Potential Reversal Zone 17450-17475 can fail if Index fails to get the support.

Historically - 17430-17440 is another important zone which was 2nd Target in the idea published on 8th Sep2021 - Bullish Butterfly

Trade closed: target reached:

Target reached 17740 & Day High - 17751

Comment:

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08:51 Hrs / 6th Oct2021

Nifty Update

Index short term could have a negative bias if holds strictly below 17800-17825 zone. Key support-17675. Support & Resistance can be viewed as profit booking levels. Break below 17675 & holds as resistance than 17550-17575 Target zone.

Thanks