Zoom In to verify the range of the channel.
Upper Band Poten tial Reversal Zone (PRZ) - 13003 to 13088
Parallel Channel's Resistance zone.
The "Control Price" will attract value towards it.
Previous work on the Same channel:...
Quick reversals from Bat pattern PRZs are quite common.
The mid-point "B" at exactly 50% retracement.
Alternate 1.27AB=CD pattern.
BC projection @61.8%.
The price quickly reversal seen after "D".
Question of Harmonic Trader/Analyst is ,
Bat Or Gartley?
Why did birth to this question?
- The Gartley Pattern required point "B "50% and 1.27AB=CD ...
Normally I don't prefer to trade with a heavy position at 5th wave especially, whenever 3rd wave is extended. In this case, we're moving toward forming 5th Wave.
I have already predicted 5wave of A, B, and C by using future expected retracement.
Value High is good to sell this stock 1372 below for targets 1287(Control Price 2) and Weekly chart 1210.
Target 1210 if the price sustain below 1360
As per the weekly chart, Buy INDIGO for targets 1480 nearby only if price close 1350 +
Param ount Underline is st ronger resistance and price can fall that why don't you...
IF RESISTANCE TREND LINE BREAK THAN BUY ON 338
SL IS 328
TARGET MUST BE
FINAL TARGET 405
IF SUPPORT TREND LINE BREAK THAN
SELL ON 328-325
SL IS 338
TARGET MUST BE
FINAL TARGET 296
There is flat top bottom pattern formation and On the hourly chart stock formed bearish divergence and on the daily chart stock resistance faces in down trend line. So I'm very confident for taking this trade.
During the time of election nifty will be highly volatile . If it break support then can test second support and vice versa. Don't hold your trade . Only do intraday trading .
Capital protection is trader main aim.
Disclaimer :- this is a educational call don't trade and invest in my recommendation.
buy tata motors every down tick, next thing you can invest in it till it is hinged above 190
buying range is 200 - 210 , take a stop loss around 190 , target @ 275 for 3 months prospective
Disclosure :- I have invested at 175 level in this...