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Butterfly

NIFTY METAL INDEX GOOD SHORT CANDIDATENifty Metal index CMP :- 3200 levels. Harmonic pattern :- Bearish butterfly pattern formation. PRZ zone in range :- 3200-3300 levels 1.27XA = 3313,, Equivalent AB =CD matures at 3210, 2.24 BC extension around 3180 levels. Bearish AB = CD pattern formation matures around 3210 levels.. Elliot Wave study :- Whole structure formation is in Expanding rising wedge pattern, at the moment index is trading around the resistance line of wedge pattern. Wave 1 : First impulse wave gave 26% move from the low point Wave 2 :- have retraced around 0.618% of wave 1 Wave 3 have extended around 2.618% of wave 1,,in % terms,, gave 60% move from low of wave 2 Wave 4 have retraced around 0.50% of wave 3 wave 5 have extended around 2% of wave 1,, in % terms,, gave 52% up move from low of wave 4. As per harmonic index is trading in PRZ zone,, as per elliot wave impulse phase is on verge to mature,, as per wedge chart pattern index is trading around resistance line of expanding rising wedge pattern, spinning top and doji candle formation seen in last two trading sessions on daily time frame, all indicates good reversal in trend can be seen from this levels.
NSE:CNXMETALShort
by RUDRA007
Bank Nifty tradesBank nifty is all set for a breakout in the upward direction but there are a few bearish confluences available like the continuous weakness of Hdfc bank until effective demand zones are reached. there is a bearish butterfly harmonic pattern forming and there a few looming supply zones also available but due to the time already spent before reaching the supply zone and the eminent consolidation in front of the supply zone it seems obvious that there could be a breakout in either case if it breaks out we will use the supply zones to reate buy positions while if it does not breakout we will look to buy at the demand zone in the chart in case there is a bearish rally downwards
NSE:BANKNIFTY
by S1OS6A18
The Precious Reversal after AB=CD and now Butterfly Pattern!Precious seen AB=CD pattern o LUPIN. The "B" retraced at exact 61.8% and BC project at accurately 1.168%. After completing this pattern, extreme fall was seen in the price. ----------------------------------------------------------------------------------------------------- Bullish Butterfly pattern required "B" mid-point 78.6% retracement and The price can fall 1.27. The reversal can push the price previous level first 938 and 980. The price an rise near of the range 853 and 846.
NSE:LUPINLong
by UnknownUnicorn12270065
BANK NIFTY - Potential Bearish Butterfly And Short OpportunityIn the previous week, bank nifty has lost 422.35 rupees. A runaway gap of bank nifty was 369.65 rupees on the last Monday. Overall, it seems bullish ahead. We may see at 25000 to 25500 soon. But this is an alternative scenario . According to this chart, the harmonic bearish butterfly pattern says bank nifty will start falling from here for the following target levels: 23960 - 23560 - 22886 - 22420 . To trade with Harmonic Pattern: From point D , a trade can be entered with stops at or above (below) the price point at D .
NSE:BANKNIFTYShort
by forextidings
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