Muku1984

Nifty next support 10600, completes triangle harmonic pattern

Short
NSE:NIFTY   Nifty 50 Index
Nifty is forming a triangle pattern. This triangle pattern Nifty has followed earlier as you can see on the chart. Nifty normally retraces from 78.6 % Fibo levels, but a triangle harmonic pattern is very strong. And if Nifty sticks to this harmonic pattern. Hence, this triangle pattern ends at 10600 levels, which Nifty will complete its triangle pattern. However, if Nifty breaks 10,600 then the next support is 10,000 odd levels. On the option chain already 10,000 strike price contracts have started seeing action.

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