There are two possibilities as per the Harmonic patterns:
1. NIFTY possible to reverses near 18340.
if so, the reversal can be between18460 ~ 18242.
And possible to reach 17636.
2. NIFTY not reverses as above, then possible near 18840.
If so, possible to reach 17906.
NIFTY now shows a Bearish Divergence.
However, there are chances to reverse from 17317 or 17290
If NIFTY goes below 17290, a possible target is 17205.
The given levels are my personal analysis only
The ideas given for STUDY purpose
The chart gives two directional possibilities
if it goes above 17600, possible to reach 18115
if it cross below 17326, possible to reach 16975
The chart analysis is intended for STUDY purpose only
No recommendations for TRADE
To confirm the validity of the chart, we have to wait till 1138.
If it cross above 1138 and possible to retest back to 1138 level
Then we can go for LONG if it starts to move up from 1138.
A fundamentally STRONG one.
Expected level for LONG term 1630.
if it cross above 3310, can consider for LONG TERM
Expected to reach 3680 level
Before landing @3680, intermediate levels are shown
Corrections can expect at these intermediate levels
If it reverse from the current level, levels below the current levels shown.
Now it respects the support trendline and may be for a short period.
If it cross below this trendline, possible to reach directly to the points 1 &2.
Other possibilities to reach 1 & 2 is also shown, if it respects the current trendline.
if it cross above 36510, possible to reach to the point 3, shown.
Now crude in at a strong support zone
It is already reached a low of $62.46 and now it is an indecisive stage.
If it cross below $64 levels. possible to reach the support zone shown.
if further cross below this zone, the expected levels are $58.3, $52.4
The above observations are for STUDY purpose since the analysis is on weekly time frame.