DJIA is at the PRZ of a Bearish Harmonic Butterfly which suggest it could retrace till 27000. Pattern would be negated above 28600 Harmonic Trading Patterns work as reversal signals based on Fibonacci ratios, Butterfly is one such pattern.
Sell Axis Bank 469.85 and more at 479 sl 486 Target 454-----438 25th Aug Closed at 451.8 sl will On 15 Mins Closing Basis Kindly Make Note Of It.
Harmonic Trading Patterns have several patterns, one among them is AB=CD, currently CNX 500 has shown a reversal from the PRZ signifying bearishness. Fresh bullishness as per the pattern would happen only if it negates the pattern above 9500, the strength of the pattern reversal would further accelerate below 9000 for its expected retrace levels as per theory...
It has entered into the PRZ of a Bearish Harmonic Butterfly in daily time frame. It could retrace back to 117/114 provided it does not go above 128.50
The momentum and run of Tata Steel was good in the recent days touched good high but somehow the momentum is getting slowed. And RSI is in overbought zone along with Doji Candle at the top seen price rejection previous candle before Doji Can be kept under watchlist
pattern are explain on chart just and educational purpose practices harmonic pattern
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Reason behind falling from the levels drawn