Reversed from the PRZ of a Bullish Bat, AB=CD & Alt Shark yesterday. It has covered the min retracement at 38% with a Bearish Shark. All happening within the slanting channel area. Further upside could be probable above the channel resistance of 11980-12000 while support comes in at 11910-11890.
Silver after reversing from a bullish Harmonic Gartley is retesting the PRZ which now coincides with the PRZ of two Bullish AB=CD patterns (60/162) & (78/127) If it can sustain above 16.35 then it could retest 17.40/17.75
Nifty 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...
It has a weekly as well as daily resistance at 420 from where it has reacted. Unless it manages a close above it there is strong possibility it might retest support at 390-380 to confirm a higher low. Sustaining above 420 (on closing basis) could take it to 475
The reversal from Bearish Shark has retraced by 50% and has opened up the probability of a Bullish 5-O here which is giving targets of 2400-2450. View would negate below 2050. As per Ichimoku also it has good support between 2100-2060.
In weekly time frame it has shown consolidation near kumo while in daily its giving a breakout today above Kumo. An EoD close above 604 could take it to next level of resistance near 635. View negates below 588
Nifty has entered into a Bearish Bat Harmonic Pattern PRZ today. However, the structure suggest that it will complete a Bullish 5-0 Harmonic Pattern. Any dip till 11550-11450 could see strong support which could then take this to 12000-12050 to complete this BAMM pattern