Bank Nifty which reversed from a Bearish Bat yesterday has done a 38% pullback and is near a Bullish AB=CD (21800), if it fails to hold 21750 then a retest of 21400 would be on the cards. Below that further weakness till 20500. Above 22200 rally resumes for 24000.
It had reversed from Bearish Harmonic Deep Crab at 400. Today it has activated a C Clamp. Both in daily time frame. It could retrace till 360 provided it does not go above 400
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
It has reversed from a Bearish Harmonic Alt Shark in hourly time frame and done a min 38% retracement. There is a possibility of a trend line breakout ONLY if it manages to break "above 328" for 360 where it has a Bearish Harmonic Butterfly. Failure to cross would see continuation of retracement till 50-62%
Nifty is at the PRZ of a Bearish Harmonic Alt Shark in hourly time frame. If it fails to cross 9200 it might retest 8700-8600 and then it could resume this bounce rally from the monthly Bullish Harmonic Alt Shark for a 50% retracement till 9600-9800.
Its a rarity to spot a bullish harmonic pattern showing signs of reversal nowadays that too in lower time frame. Here in hourly LUPIN has made a bullish Shark. It is showing strong support at 550. It could retest 600 provided it does not break 525.
It is in the PRZ of a Bullish Harmonic ALT SHARK in Weekly time frame. A daily close above 1650 would add conviction for a probable move for next resistance at 1850-2000. Small time frame resistance at 1590-1625. For now the pattern would get negated below 1450
