NiftyNifty through the week was within a falling channel making Lower Lows and Lower Highs. At close today it came into the PRZ of 3 Bullish Harmonic Patterns, namely, Shark, Bat & Gartley. If it were to reverse from this level it needs to survive above 11940 for an hour at least. Then it could move all the way back to test the falling channel at 111975-12025. From that range (or on failure to hold 11885) we could expect the next set of 3 Bullish Harmonic Patterns. namely, Alt Shark, Bat & AB=CD get active between 11830-11860 to conclude this slanting channel trend
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Market Prediction - Technical Analysis Works all the timeDear Traders,
Thank you for your support, It helps me more to post more educational videos on technical analysis. Today I was discussed about how market respects the trend, and how accurately works. Based on my experience and my knowledge and the way I'm analysis the market, I have posted an educational videos every week.
This week I was posted about the rally happened in the market last Friday 20-92019. I was predicted the market will move towards 38% retracement level upto 27200 by next expiry, but unexpectedly it will move up vigorously from the outcome of tax reduction announcement. Wow what a great profit. These kind of opportunities will occur only once or twice on a decade, we have to utilize this based on our market technical knowledge whether we are in buy side or sell side.
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Deepak