Nifty traded below point "D" of Ideal Harmonic "AB = CD" pattern since Last 3 trading days. Where Point "D" at 10082.9. On Monday Made a High at 10088, above Point "D", but missed. So, 10082.9 much more Crucial.
If Bulls Take Control: Scenario #1: If Crossed & Settled above 10082.9 NEXT to Watch 10165.3 Where Harmonic AB = CD, Extended D = FIB Ext 1.13 of BCD
Scenario #2: If Crossed & Settled above 10165.3 NEXT to Watch 10255.4 Where Harmonic AB = CD, Extended D = FIB Ext 1.272 of BCD
Scenario #3: If Crossed & Settled above 10255.4 NEXT to Watch 10345.4 & 10474.8 FIB Ext 1.414 & 1.618 of BCD respectively.
If Bears Take Control: Scenario #4: If Failed to Cross & Settled below 10082.7 NEXT to Watch 9947.2 (Strong) Though 10010.6 (Minor) Support is there.
Scenario #5: If Failed to Cross & Settled below 9947.2 NEXT to Watch 9840.7 (Strong) * May be witnessing some Pull Back from here Though 9891 (Minor) Support is there.
Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
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With Warm Regards. DSKF16.
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Can Members Noticed One Thing, on 08th Aug 2017 (Last Trading Day) made LOW @ 9947. Mentioned "Scenario #4: If Failed to Cross & Settled below 10082.7 NEXT to Watch 9947.2 (Strong)" ONLY Difference ONE FIFTH of a Point (0.20).
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Today Bounce from 9685.55 Notice 9691 (Plotted Level on chart.)
It has settled below 10082 as of now nah? do u go with bears?
DSKF16
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@Parasuram, Yesterday Give view as UPDATE on earlier Post "SHORT NF @ 10099 - @ 10110 TGT : ........., @ 10049 - @ 10046, @ 10012. SL: @ 10132
all achieved. i think what is my View was cleared.
Parasuram
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@DSKF16, Missed that post! can u pls gimme the link for understanding purpose!