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The index has formed a Bearish Harmonic Deep Crab in the weekly time frame. It is currently in the PRZ zone of 9050-9400.
As of now its not showing any sign of weakness. If it starts sustaining below 9050 the bearish structure would get activated for 8600/8250. There is resistance between 9200-9250. One should wait for...
FTM/BUSD 4hr. Chart Analysis
FTM running under Bullish Harmonic Wave as in XABCD Butterfly Pattern, It is almost on finishing point into last cycle of Downtrend after cut-off point as in Bearish Penant Pattern into 1-hr. candles chart.
UPCOM:FTM last Lower-Low bearish cut-off point will be 22-20 cents, while initial reversal point is around 23-24 cents soon...
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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.
It has turned from a Bearish Harmonic Bat in Weekly time frame. Sustaining below today's low 1587 would open the path for 1550/1500/1400. It faces strong resistance now at 1625, view negates above 1660
Here is a bearish BAT, short setup developing on Wipro daily chart .
It may take some time to complete the D leg, but it's worth to keep in watch list.
Trade levels shown on chart.
Trade with Care,