ALEMBIC PHARMAIt has made a bullish harmonic butterfly in daily time frame. It could retest 950/1025, above that a new high. View negates below 865. Stock is coming into derivatives from March Series onwards.
Harmonicelliottwave
TATA CHEMICALSIt has entered into the PRZ of a Bearish Harmonic Butterfly suggesting a pullback/reversal in daily time frame till 340/335. View would negate above 370
Harmonic Butterfly Patterns usually indicate pullbacks of the larger trend (in this case the same being up) not major reversals. Such patterns are usually associated with breakout patterns and respective pullbacks.
