Harmonic Patterns
CENTURY TEXIn weekly time frame it is showing signs of revering from a Bearish Harmonic Cypher PRZ. In hourly time frame it has made a Bearish Harmonic Gartley and reversed. Failure to hold 490 on closing basis in daily time frame could be a trigger for the expected down move till 450. In hourly time frame trading above 513 would negate the move for now.
CIPLAIn daily time frame CIPLA is on the verge of a breakout above 485. Above which it could go and complete the min bounce/reversal levels (510-520) of a Monthly AB=CD formed near recent low. It has very good support at 475-470.
TATA STEELAfter making a double bottom it is now attempting to complete the Bullish Harmonic Dragon Pattern which suggests levels of 490 and 575. The view would go wrong if it sustains below 420. Double confirmation is weekly close above 440
