bullish harmonics / falling parallel channel trade :

nifty
cmp 17005
yesterday swing low 16850 has triggered bullish harmonics .886 levels
making bottoms near trend line supports of parallel channel .
positionally nifty can reach 17140 / 17220 / 17440 / 17570 / 17780 levels with stop loss of 16740 on closing basis
all technical set ups are shared in charts

Comment:

Indications for a good bottoming out of the current downtrend corrective phase
1. huge volatility
2. doji candles in index
3. Extreme fear in retailers sentiment
4. Fiis at almost at 10% longs only.

Comment:

17263+ high

Comment:

17320+ high

Comment:

17428+ high

Comment:

17466+ high

Comment:

17506+ high

Comment:

17601+ high

Comment:

17668+ high

Comment:

17740+ HIGH

Comment:

17819+ high

Trade closed: target reached