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Nifty in the hourly time frame has activated a Bearish Harmonic Alt Shark with the sharp drop since opening bell today.
Now its gone onto make a Bullish Harmonic Reciprocal ABCD, however, since the drop was very sharp and its yet to do 38% of its minimum expected retracement, a confirmation for this bullish reversal will be once...
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Stock has entered in the PRZ of a Bearish Harmonic Bat Pattern in the monthly time frame suggesting a retracement 135-115.
The pattern gets negated above 188 - X pt of the pattern.
Since this is a monthly structure it could see a longer period of consolidation before it either does a distribution and dips down or after a...
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The index saw a super duper reversal from a Bullish Harmonic Bat in end October near 4100.
Now it has an immediate resistance coming up near 4600 where we might see some consolidation, above that it enters into the PRZ of a Bearish Harmonic Alt Shark near 4650 which could trigger some profit booking.
From 1 harmonic pattern...
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GIFT NIFTY 4 hourly chart in the PRZ of two bullish Harmonic Patterns - Alt Bat and Crab.
The Alt Bat gets negated below 19200 while the Crab gets negated below 19150.
Sustaining above 19350 the probability of a rally/bounce would be high.
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S&P has entered into the PRZ of a Bullish Harmonic Gartley pattern.
A bounce/reversal could be expected as long as it does not breach below 4375
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The index has formed a Bearish Harmonic Deep Crab in the weekly time frame. It is currently in the PRZ zone of 9050-9400.
As of now its not showing any sign of weakness. If it starts sustaining below 9050 the bearish structure would get activated for 8600/8250. There is resistance between 9200-9250. One should wait for...
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The H&S formation saw it complete its minimum breakdown of 1-1.27x Fibonacci extension.
Today in the daily time frame it completed the formation of a Bullish Harmonic Gartley suggesting a reversal from the current level (3900) for 4250 and 4400 as long as it does not go below 3800.
Happy Investing
