India Nifty- Bullish Bat with Critical X-low@8768

NSE:NIFTY   Nifty 50 Index
Bullish Bat Pattern becomes invalid if X-wave@8768 is taken out to the downside. With critical stop below 8768 & confirm at your end for bullish opportunity for targets 8870-8880 (once it crosses 8820)

Watch for the bounce in the zone 8765-8775 for 1:6 Risk Reward Ratio.

Kindly do some confirmation at your end before taking any positions.

Abhishek H. Singh, CMT
Trade active: 13:25 Hrs-IST-1st Sep2016- Vow it turned upside from very close to our stop@8768-Critical X-Wave Low. Cuurent rate-8800
Trade closed manually: On upside it failed to cross 8820- well it was good bet as it went very close to 8768 making low@8771.20 & then bounce till 8812- one could have made 50% profit here.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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Hi Can you please check NIFTY weekly chart where X as 9119 and A at 6827, than 0.886 retracement comes at 8858. So in future we can see if that retracement is valid or not for the bearish butterfly.
Confirm bearish butterfly measurements at your end again
D-leg should be 1.27 to 1.618 of XA -leg & confluence with 1.618 to 2.618 of BC leg- likely D-leg should fall in that zone
nirav5 AbhishekHSinghCMT
Yes currently B leg is in the developing state so its not pattern right now but if it confirms the reversal from then potential bearish butterfly 's B leg can get confirmed on a larger time scale.