COAL INDIAIt has turned from a Bullish Harmonic Butterfly and could now retrace till 128/131 as long as it holds above 122.
Butterfly Patterns are 5 pt Harmonic reversal/bounce set ups based on specific Fibonacci Ratios.
Harmonicsignals
LUPINIt has activated a Bullish Cypher in hourly time frame. As long as its above 923 it can retest 945/950
Cyphers are 5 point Harmonic Patterns based on fibonacci ratio alignments
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
GOLDGOLD if it manages a MONTHLY "close above $1825" (all time high) it will activate probable targets of $1975 & $2075
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.
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
BIOCONIt had reversed from Bearish Harmonic Deep Crab at 400. Today it has activated a C Clamp. Both in daily time frame. It could retrace till 360 provided it does not go above 400
SIEMENSAfter reversing from a Bullish Harmonic Shark, it has activated a Bullish Harmonic Dragon which suggest probable levels of 1225 and 1350. It has very good support at 1080-1070. View would be negated below 1035
Dow JonesDJIA has a bullish harmonic butterfly at 22450. This also tallies with Ichimoku monthly as well as daily support.
TATA CONSUMERIt has reversed from a Bearish Harmonic Alt Shark in hourly time frame and done a min 38% retracement. There is a possibility of a trend line breakout ONLY if it manages to break "above 328" for 360 where it has a Bearish Harmonic Butterfly. Failure to cross would see continuation of retracement till 50-62%
NiftyNifty is at the PRZ of a Bearish Harmonic Alt Shark in hourly time frame. If it fails to cross 9200 it might retest 8700-8600 and then it could resume this bounce rally from the monthly Bullish Harmonic Alt Shark for a 50% retracement till 9600-9800.
LUPINIts a rarity to spot a bullish harmonic pattern showing signs of reversal nowadays that too in lower time frame. Here in hourly LUPIN has made a bullish Shark. It is showing strong support at 550. It could retest 600 provided it does not break 525.
HDFCIt is in the PRZ of a Bullish Harmonic ALT SHARK in Weekly time frame. A daily close above 1650 would add conviction for a probable move for next resistance at 1850-2000. Small time frame resistance at 1590-1625. For now the pattern would get negated below 1450
Apollo TyresIt is in the PRZ of a Bullish Alt Shark in daily time frame. It could retrace back to 150-160 provided it does not break below 133
HCL TECHNOLOGIESIt has reversed from the PRZ of a Bullish Gartley and AB=CD. As long as it stays above 533 it can do a pullback till 550-560
TV18 : Short Commercial Break !" Shorting " Commercial Break from Bull Run , so if you have the risk appetite Go for it . Else just watch how trades pan out. Always take trade based on your plan :)
Happy Trading !
