WaveTalks-Nifty-Bearish Bat Harmonic Pattern at 16665

WaveTalks Updated   
NSE:NIFTY   Nifty 50 Index
This video discussed a bearish harmonic pattern that might be quietly sitting & hiding in the price structure if unfolds exactly holding below 16701.85 then the downside support could be 16510-16530 / Below 16500 for 16370-16390.

Last Nifty Video Idea

Hope you enjoy the video. Good Night!!!

11:35 Hrs / 25th Aug2021

Last Price @ 16680

Day High @ 16712

Careful at the tops !!!
12:41 Hrs / 25th Aug2021

Last @ 16675

Bearish Candlestick Formation - Evening Stars at a crucial juncture of 16700 could be an important clue for Traders.

Evening Star Candlestick Pattern historically gave 60% strike rate.

Manage Your Risk properly & Trade. Thanks

14:50 Hrs / 25th Aug2021

Last Price @ 16632

16615-16625 is the support zone intraday & the break below will make it drop further or Index will retrace a bit.

25th Aug2021

How waves unfolded for the day

New high above 16702 as 16712-warned at 16680-drops to 16629-jumps back again to 16693-drops again to 16617 & finally closed at 16634.
Good Morning All

26th Aug2021

As per the last update yesterday @ 14:50 Hrs ( 2:50 pm) - 16615-16625 is the support zone once that zone gives away & Index slips below -fall will continue else we see a little bit of retracement to 16660/16675 where the index faces another resistance.
09:30 Hrs / 26th Aug2021

Last Price @ 16654

Struggled close to 16615-16625 zone - made a small dip to 16611 & crossing the zone 16615-16625 on the upside -traveled close to 1st objective 16660.

Day High @ 16658
Trade active:
09:49 Hrs / 26th Aug2021

Last Price @ 16667

Key Resistance - 16695

Critical Resistance - 16712

Watch for resistance zone upside carefully. Till the time the key level holds i.e. 16695 on the upside - Index has fair chances of dropping back to 16615 & Falling below 16590- It will dip to 16520-16530 zone

Have a wonderful day ahead. Thanks
10:32 Hrs / 26th Aug2021

Last @ 16669

Struggling on the upside.

Just Manage your trades keeping in mind key level- 16695 - Any move above 16695 can make Index travel again for new highs above 16712.

If 16695 level hold & Index fails to cross above 16695 then most likely it drops to 16615 / below 16590 for 16520-16530 zone

Will it fall to 16615 & Below 16590 to 16530🤔Only time will let us know.

Best Regards,
Abhishek H. Singh
​Growth Director - TradingView India

YouTube Channel www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

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