Nifty 15mins TF is at the PRZ of a Bullish Shark. Settlement bounce for now till 12100, post which will review for more or not. View negates below 12030
Interim budget - 5 july 19 - price action
It is making a Bullish Harmonic Dragon - probable levels of 3600 & 4100 with strong support at 3150-3100.
Nifty India Consumption had witnessed a 50% reversal from a Bearish AB=CD. Post which it is now getting very close to a Bearish Harmonic Alt Shark near 5240, the outer limit of this pattern tallies with the outer limit of the previous bearish pattern at 5270. If this pattern works out as expected then this last leg of rally could see some profit booking and retest...
CMP 1690 Stop below 1610 Targets 1800 1900 2000
Are we heading for 5000 Point correction in Banknifty? Now I dont think so, it will come after Feb or March.