DJIA which turned from a Bullish Harmonic AB=CD is now approaching the PRZ (28600-28800) of a Bearish Harmonic AB=CD. Like in the bullish instance which coincided with Ichimoku support, here too the expected resistance tallies with an Ichimoku weekly resistance and a falling trend line. View would negate above 28900
NSE:ITC
Stock has turned back from critical support level.
Closed over 50 ema with bullish candle before results.RSI just crossed 60 so trend should continue.
Stock also closed over resistance trend line. If remain above the line then tgt is 190-200. Momentum also increasing as seen from MACD histogram.
Although I had this on watch, but I wasn't able to catch this rally.
Look at the pattern.. A perfect bullish Flag!
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Today BNF entered the long channel that it broke in September. The lower channel line is respected from May 2020 and is acting as a good support and resistance. With todays break out with good volume should give BNF a good boost to sail through 26500+ points easily in coming weeks. There are some gaps to fill on the way that was created by the fall during covid...
DJIA is at the PRZ of a Bullish Harmonic Pattern AB=CD which coincides with the Ichimoku support both weekly as well as daily. Failure to hold 26000 will trigger a medium term correction in it. For now resistance at 26800/27100/27500.
