TVS MOTORIt has given a Cup & Handle breakout which suggests an upside level of 545. The view would get negated below 503
Harmonicparadise
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.
COAL INDIAIt has turned from a Bullish Harmonic Butterfly and could now retrace till 128/131 as long as it holds above 122.
Butterfly Patterns are 5 pt Harmonic reversal/bounce set ups based on specific Fibonacci Ratios.
Dow Jones Industrial AverageDJIA is at the PRZ of a Bearish Harmonic Butterfly which suggest it could retrace till 27000. Pattern would be negated above 28600
Harmonic Trading Patterns work as reversal signals based on Fibonacci ratios, Butterfly is one such pattern.
CNX PHARMANifty Pharma has activated a Bearish Harmonic Alt Shark in weekly time frame. A shallow correction wont breach 10500-10750 while a deeper one would test 9500. View negates above 11500
GOLDGOLD if it manages a MONTHLY "close above $1825" (all time high) it will activate probable targets of $1975 & $2075
BALKRISHNA INDThe WEEKLY time frame has activated a Bearish Harmonic Shark. If it sustains below 1250 then it could retest 1200 and below that 1075. View would negate above 1270
BANK NIFTYBank Nifty which reversed from a Bearish Bat yesterday has done a 38% pullback and is near a Bullish AB=CD (21800), if it fails to hold 21750 then a retest of 21400 would be on the cards. Below that further weakness till 20500. Above 22200 rally resumes for 24000.
ICICI BANKIt has activated a False Breakout Continuation Pattern. It could retrace till 360/400 (which also happen to be Ichimoku based Cloud resistance levels) provided it does not go below 305
ITCIt has formed a Bearish Harmonic Gartley which coincides with the Weekly/Monthly Ichimoku resistance alongwith highest OI in 200CE, It could retest 175/165. View negates above 196
NESTLE INDIAIt is showing signs of reversal from a Bearish Harmonic Alt Shark and has all activated a Bearish C Clamp per Ichimoku. It could retest 16250-15500-14500 as long as it stays below 17550
HDFCIt is in the PRZ of a Bullish Harmonic ALT SHARK in Weekly time frame. A daily close above 1650 would add conviction for a probable move for next resistance at 1850-2000. Small time frame resistance at 1590-1625. For now the pattern would get negated below 1450
