Strategy explained in detail on the chart.
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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...
It has activated a Bullish Ichimoku C Clamp probability in hourly time frame. The probability will be negated below 1018 while resistance is at 1070. Ichimoku analysis works on the alignment of specific moving averages comprised of conversion line, base line, leading lines, lagging line and Cloud
I come across many times when people fall in trap when they see breaking of long term support or resistance in intraday by merely seeing on small timeframe (TF) like (1-5 mins). I suggest those friends to wait for the confirmation of such breakout on higher timeframe like 15-30 minutes atleast. In this example I would like to make you understand this psychology...
This is downtrend bearish patterns
JAMNAAUTO has completed a 5 wave rally and it shows signs of 3 wave correction and it is first wave of correction. it also formed double top at 52 level. it may retrace upto 40 level. which also equal to 20% correction. more over it has broken support trendline on 1h chart.