HDFC Bank reversed from a Bearish Harmonic Bat and now has activated a Bearish C Clamp as per Ichimoku study. It faces resistance at 1210 and it could retrace till 1130/1080 provided it does not breach above 1240
Harmonic Trading Patterns are formations based on Fibonacci Ratios which indicate reversal of a trend with retracement levels of 38-50-62% of the trend...
It has made a Bearish Harmonic Bat in daily time frame. It could retrace till 1200/1175/1100 provided it does not start sustaining above 1270 once again.
Harmonic Patterns are derived from Fibonacci Ratios when each angle of retracement aligns to confirm a reversal probability of 38-50-62 % of the existing trend.
It is at the PRZ of a Bullish Harmonic AB=CD Pattern suggesting a bounce/reversal provided it holds 346. It's expected reversal levels are 390 & 405
AB=CD Harmonic Patterns are derived out of specific Fibonacci Ratios which form parallel running channels appearing in the shape of a thunderbolt.
Nifty is attempting a reversal from a Bullish Harmonic Alt Shark in hourly time frame which coincides with an Ichimoku Kumo support in daily time frame. If it manages to sustain above 11100 it could retrace back to 11275/11350. There is strong resistance now at 11425. Break of 11050 on closing basis will lead to further weakness/selling pressure.
Harmonic Trading...
Nifty has initiated a Bullish Harmonic Pattern 5-O which has the PRZ of 11450-11400. As long as it sustains above 11300 it could rally till 11775-11850. Further confirmation would be hourly sustenance above 11570.
Bullish 5-O are 6 points Harmonic Patterns usually preceded by a Bearish Alt Shark. The pullback from the Alt shark in this case happens to be a...
It has turned from a Bullish Harmonic Butterfly and could now retrace till 128/131 as long as it holds above 122.
Butterfly Patterns are 5 pt Harmonic reversal/bounce set ups based on specific Fibonacci Ratios.
It has activated a Bullish Cypher in hourly time frame. As long as its above 923 it can retest 945/950
Cyphers are 5 point Harmonic Patterns based on fibonacci ratio alignments
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.
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...
Nifty Pharma has activated a Bearish Harmonic Alt Shark in weekly time frame. A shallow correction wont breach 10500-10750 while a deeper one would test 9500. View negates above 11500
Nifty:
Monthly range 11350-10725
Weekly support 11050 resistance 11350/11475/11750
Daily support 11000/10850 resistance 11300
Hourly Butterfly at 11025, if it fails to hold then 10900 likely.
Bank Nifty:
21000 crucial level for any attempt to bounce/reverse back for 22700 and above that rally till 23750-24000
After reversing from a Bullish Harmonic Shark, it has activated a Bullish Harmonic Dragon which suggest probable levels of 1225 and 1350. It has very good support at 1080-1070. View would be negated below 1035
