Harmonictraders
Nifty Analysis For 7th July Expiry Week In DTF and WTF Nifty is in retracement phase. In 15 min timeframe one can observe a Hidden Bearish divergence in RSI. Hence I am expecting a trend continuation. But the question is how much retracement can we expect? To answer this I have used harmonic ABCD pattern to find the PRZ, which will be activated if and only if Nifty sustains above 15930. Then one can play a long upto 16000 as it is always a psychological support. If nifty breaks 16000 then it will be facing a strong supply zone because of harmonic PRZ highlighted in the chart. I want to consider a short from the PRZ for the best Risk to Reward(RR).
AU SMALL FINANCE BANK - PRICE ACTION + HARMONICS AU SMALL FINANCE BANK
1- The formation is of head and shoulder pattern
2 As per the Harmonics also we could see Gartley
getting formed in this
3 if the point b is broken and sustained we can see a good fall in au small finance
simple chart but looks like a good opportunity
your valuable comments motivates for more and more charts
but i prefer to do only on the right set up
All the best
Thanks
Nifty 50 13 th May 2022I have used 15 minute time frame to calculate the swings. As per chart harmonic AB=CD pattern and bullish 2.5 retracement converged in the same area. So we expect a sharp pull back from here. Again there is a Bearish 0.382 retracement which may act to make the price action as described. Let’s see.