Ideal Cypher pattern will have CD leg as 0.786 retracement or 0.886 retracement which does not fall below 7950 level. I am taking some liberty here
if Nifty goes past 7915 we will have to consider failed setup of Bullish Cypher. Already Bullish Butterfly set up has failed.
I will post here once the reversal is confirmed.
Thank you Nirav for the reply on my query.
Hello Nirav Just a doubt is NIFTY forming a bearish cypher pattern
X @ 8504
A @ 7916.4
B @ 8274.95
C -- yet to form maybe @ 7869 to 7768
D -- upmove of 0.786 XA etc
Please have a look at this view