idfc first bank bullish shark long term

Bank is following the shark harmonic pattern in monthly time frame. Trend line breakout was seen at 35 rupees which was best to enter the stock . Now the target point according to shark can be either .886 to 1.13 range which completes at point D as we see in all other harmonic patterns . Now, B to D(1.618) must be near to point D as much as possible. So, we used point D at 1.13 not .886 . According to this pattern our potential reversal zone range is 83.35-89.90. Maintain stop loss of 55.60 on candle close basis, use one day candle for this.
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Commentaire:

buyers taking control at 59.60