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Harmonicpatternspotential

HDFC BANKHDFC Bank reversed from a Bearish Harmonic Bat and now has activated a Bearish C Clamp as per Ichimoku study. It faces resistance at 1210 and it could retrace till 1130/1080 provided it does not breach above 1240 Harmonic Trading Patterns are formations based on Fibonacci Ratios which indicate reversal of a trend with retracement levels of 38-50-62% of the trend line. Ichimoku is a Japanese origin study of charts based on specific Moving Averages combined together to give a trend based signal in terms of both Price and Time.
NSE:HDFCBANKEducation
by Dinesh_C_Nagpal
3
NiftyNifty is attempting a reversal from a Bullish Harmonic Alt Shark in hourly time frame which coincides with an Ichimoku Kumo support in daily time frame. If it manages to sustain above 11100 it could retrace back to 11275/11350. There is strong resistance now at 11425. Break of 11050 on closing basis will lead to further weakness/selling pressure. Harmonic Trading Patterns are studies of specific patterns based on fixed Fibonacci ratios. They give reversal signals when there a cluster of ratios come in alignment. Ichimoku is a Japanese study based on specific Moving Averages
NSE:NIFTYEducation
by Dinesh_C_Nagpal