14255 level in Nifty Index is Support as per Cypher Model but this ref point may not be valid because the recent high is not valid as per the pattern rules for 0.082%.
I have shifted to Shark Pattern which shows a much deep Price Reversal zone which has to be compatible with different levels the level is 13889 to 13854.
Jindal Steel Good short candidate.
Bearish SHARK pattern formation.
PRZ zone in range 270-285
SLZ zone above 295
T-bar already formed and gave reversal,, now is sell on rise candidate,,
Best range to go short is 270 to 285,,
Rising wedge formation,, currently counter is trading around resistance line of rising contracting wedge ,,
RSI divergence seen in last 2...
Nifty framing a Harmonic Shark Pattern ( Bearish Shark )
We can expect a reversal near 11546-11550 (PRZ)
Stop loss- 11600
Target -11408, 11368
I'm expecting NIFTY further downside till 11200-11185
Kindly stick to harmonic pattern target.
Just my view.. :-)
Currently wandering in key resistance area
Bearish engulfing candle stick
Bearish Shark pattern completed
Black box is probable reverse zone
Price rejection indicated by candle pattern
Currently at channel support so could wait for sometime for better entry ,don't jump into trade ,still support is not strong enough...
Indigo short got activated today (Trade still active)
Gave good intraday returns today
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Bearish Shark Pattern is being formed on the daily chart of RBL Bank . Leg XA, AB & BC is already formed and leg CD is in formation. expecting to move towards 670 level , before start of downward movement.
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Declaimer : it is for education purpose only.