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
Harmonic Patterns
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.
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
NIFTY & BANKNIFTYNifty:
Monthly range 11350-10725
Weekly support 11050 resistance 11350/11475/11750
Daily support 11000/10850 resistance 11300
Hourly Butterfly at 11025, if it fails to hold then 10900 likely.
Bank Nifty:
21000 crucial level for any attempt to bounce/reverse back for 22700 and above that rally till 23750-24000
GOLDGOLD if it manages a MONTHLY "close above $1825" (all time high) it will activate probable targets of $1975 & $2075
HIND PETROIt has made a Bearish Harmonic Alt Shark near the trend line resistance. It could retrace till 220, view negates above 238
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
CNX FINANCIALS & NIFTY PVT BANKSBoth CNX FINANCIALS & NIFTY PVT BANK indexes have made Bearish Harmonic AB=CD which also happens to be v close to their weekly & monthly Ichimoku resistance. Financials could retrace till 10500 while Pvt Banks could retrace till 11500. View would negate if they move and sustain above 11500 & 13100 respectively.
SBI LIFEIt has made a Bearish Harmonic Deep Crab here. It could do a pullback till 825/800 provided it does not go above 885.
Buy orient electric BUY ORIANT ELECTRIC Above 505 Hourly closing basis
With stoploss 185
For target 230,254,280
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.
BHARAT FORGEIt has made a bearish Harmonic AB=CD pattern. Sustaining below 365 could lead to a pullback till 335 and lower. View gets negated above 377
SELL NIFTYGold make higher high formation and as you know that
stock market and gold are moving in the opposite direction.
American market is in quit consolidation range
And LAC matter is also in controversy.
FROM THIS WE CAN PREDICT "THE BEAR WILL RIDING ON STOCK MARKET"
