Everything is explained on chart .. the start of the possible harmonic happens at the end of the C leg to find that you need to identify and keep an eye on the B leg
Train your eyes to identify the Structure. Latter comes the logic and understanding.
At the PRZ of a bearish Harmonic Bat in Weekly time frame it made a bearish reversal Candlestick today. A follow through tomorrow onwards would confirm a downward move for 13250 and below that for 12000. The view would negate if it sustains above today's high.
The index constitutes of all the large Banks and large Finance companies.
Harmonic Bat is a 5 points...
It has reversed from a Bearish Harmonic Alt Shark which could see a retracement till 318/310/300. The view would negate above 332.
Harmonic Trading Patterns are derived from Fibonacci ratios which create various patterns indicating reversal/retracement of trend in the time frame spotted.
It might be forming a THREE VALLEYS & A RIVER in hourly time frame. It has two bearish Harmonic Trading Patterns at 11875 (Deep Crab) and at 11975 (Alt Shark). "If" a REVERSAL were to occur from that zone then the downside expected levels could be 11750 / 11550 / 11400. The negation point would be at 12020
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
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
