When any stock or index is moving in a channel, Harmonic pattern can be very useful in predicting possible breakouts.
If Nifty holds 8500 and starts moving upside then possibly we can have a D leg of a Bearish harmonic pattern in the making.
You can pick multiple X from the channel resistance.
There are other patterns too in the current Nifty chart.
If Nifty holds 8500 and starts moving upside then possibly we can have a D leg of a Bearish harmonic pattern in the making.
You can pick multiple X from the channel resistance.
There are other patterns too in the current Nifty chart.
Commentaire:
This channel is full of structures. It all depends whether Nifty can hold 8500 tomorrow and show some reversal sign.
Commentaire:
Nifty failed to hold 8500 and structures also failed. Nifty saved by the bell or previous support line will be watchful.