TukkaNomist

Is it ABCD pattern ?

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NSE:NIFTY   Nifty 50 Index
Bearish patterns are drawn upsloping. Bullish patterns are drawn downsloping. BC is normally 0.382-0.618 of AB. BC of present upleg is closed to 0.618. Time hormony gives date of 26th Nov to form CD around 17230. I am using ABCD pattern for the first time. CD is not a target but just an estimation of downtrend if continues. You can't short on the basis of Bullish ABCD pattern.

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