Harmonictraders
NAVIN FLOURINEHello & welcome to this analysis
The H&S formation saw it complete its minimum breakdown of 1-1.27x Fibonacci extension.
Today in the daily time frame it completed the formation of a Bullish Harmonic Gartley suggesting a reversal from the current level (3900) for 4250 and 4400 as long as it does not go below 3800.
Happy Investing
PNB PUNJAB NATIONAL BANK 1WTHIS IS THE CHART OF #PNB PUNJAB NATIONAL BANK ON 1WEEK TIME FRAME. XABCD HARMONIC PATTERN ACTIVATED ON 1WEEK TIME FRAME , #PNB BREAKS THE VERY STRONG SUPPORT OF 48 RUPEES ON WEEKLY BASIS. NOW WE SHOULD TAKE THE ENTRY ON THE CONFORMATION OF 200EMA BREAKOUT FOR THE UPPER TARGET'S. All the information shared in this chart is provided for strictly educational purposes only. This chart is sharing information are based on the theory of technical analysis . This is not an offer to buy or sell stocks, futures , options, commodity, forex, interests or any other trading security. Back test yourself before jump into live market consult your financial adviser and use proper risk management.
SNP index CASE studySNP spot cmp 4020
Harmonic study
Time frame :- 120 mins
Bearish shark pattern formation
potential reversal zone at 4058 (pattern maturity)
Reversal confirmation below 4000 levels on closing basis
View valid till index sustain below 4120 levels on closing basis
Down side retracement possible till levels of 3900-3800-3700
Time horizon :- 7-10 trading sessions
Index is at resistance zone as per harmonic study, Bulls need to be cautious.
AMBUJA CEMENT case studyAmbuja cement have give a phenomenon rally from level of 150 to now around 600 levels, almost 4 times in last 2 years,
Counter is now trading around 592 levels which is life high levels for the counter,
Bearish equivalent harmonic ABCD pattern formation with maturity level around 580-611 levels,
now any upward journey in counter should be used to exit your long positions , as harmonic study suggest that counter might face resistance around levels of 590-611 levels, any weekly closing below 580 levels would confirm the trend reversal in counter,
RSI have bearish divergence on weekly time frame with respect to price.
Fresh investment only suggested above 630 levels on weekly closing basis or wait for a dip till levels of 485-444.
Time to be cautious in your investments in this counter.
PVR Midterm swingPVR has stopped making lower lows in DTF and given breakout of the resistance area with a possible retest. A good candidate for swing with the target and stoploss mentioned in the chart.
A reversal setup in IEXThe following chart represents a Harmonic Pattern specifically an AB=CD pattern, which is a reversal setup. The D point represents the reversal point and the two horizontal rays make the Potential Reversal Zone (PRZ). This is a long term pick and targets too are based on Harmonic numbers.