There's two Harmonic Pattern (Crab & Gartely ) has Mid point B - 61.8% retrace of XA. In this case, this one is not Gartley caused of the price crossed over the 0.786 of XA leg.
Let's talk on a Crab pattern:
Int roduction of Crab:
The critical aspect of this pattern is the tight Potential Reversal Zone created by the 1.618 of the XA leg and an extreme (2.24,...
This is a longterm analysis which is on the basis of the harmonic study.
As per this study, 14750 will be the strongest resistance as of now.
The parallel channel is showing the dynamic resistance of the index.
As per the pattern, it has clearly shown the Price reversal Zone will be near 7250. All the stats are as per the EOD basis.
In another way, this...
Berger Paints Spot CMP :- 735
Bearish Crab Pattern formation :-
PRZ zone :- 726-738 levels.
SLZ zone :- 760 levels
1.618 XA :- 726 level
2.618 BC :- 738
Elliot Wave Study :- Currently counter is trading in impulse wave 3 of impulse phase.. At the moment wave 3 have extension of 2% of wave 1 which is around 745 levels.. if wave 4 unfolds from this levels...