Bullish ABCD is formingAfter a correction from the recent high the Nifty is likely to complete Bullish ABCD pattern around 11625. Therefor we may witness some recovery from that levels.
Harmonic Patterns
Avoid pharma stocks for the time being?The Pharm index has found resistance around 70% retracement of its previous fall and slipped lower to confirm a harmonic pattern.
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.
Axis Bank Bearish Gartley PatternSell Axis Bank 469.85 and more at 479 sl 486 Target 454-----438
25th Aug Closed at 451.8
sl will On 15 Mins Closing Basis Kindly Make Note Of It.
NIFTY 500
Harmonic Trading Patterns have several patterns, one among them is AB=CD, currently CNX 500 has shown a reversal from the PRZ signifying bearishness. Fresh bullishness as per the pattern would happen only if it negates the pattern above 9500, the strength of the pattern reversal would further accelerate below 9000 for its expected retrace levels as per theory of 38-50-62% which are near 8500-8200-8000
TATA MOTORSIt has entered into the PRZ of a Bearish Harmonic Butterfly in daily time frame. It could retrace back to 117/114 provided it does not go above 128.50
Tata Steel Looking BearishThe momentum and run of Tata Steel was good in the recent days touched good high but somehow the momentum is getting slowed.
And RSI is in overbought zone along with Doji Candle at the top seen price rejection previous candle before Doji
Can be kept under watchlist
Nifty 60 min Chart take look (Bull Gartley Pattern on process)pattern are explain on chart just and educational purpose practices harmonic pattern
HDFC LONG TERM BUY FOR 994HDFC BANK IS GOOD BANK IN INDIA AND GOOD DISIPLINE RULES AND THEY HAVE GOOD BASE VALUE AND GO FOR BUY LONG TERM
Bank Nifty - Bullish Crab Pattern - 15 min ChartHarmonic pattern likely to be formed in Bank Nifty. The same is coinciding with a strong support band of 21200-21050.
Enter trade only if positive RSI divergence is seen. Views negated below 21050.
Note - Views only for educational purposes, not a trade recommendation.
NIFTY AT BUYING JONE 11000 TO 11030ITS A HARMONIC BUTTERFULLY PATTERN
TREND REVERSAL GOING ABOVE
TARGET 1 - 11150
TARGET 2 - 11300
THIS NO VALID BELOW 11000
WE HAD TO TAKE SELLING OPRTUNITY
Megaphone Pattern Breakout Traders:
When the price breakout the trend line after making the 5th or 7th swings and closes outside the pattern, a breakout is confirmed. Breakout may happen in positive or in a negative direction. Depending upon the market condition and the position of the pattern in the chart, bullish and bearish happens.
