I am learning this new harmonic pattern and found it working perfectly for nifty analysis.
.
There are several PRZ zones that nifty have shown minor correction.
Levels are:
1) 0.886 - 11830.00
2) 1.132 - 12900.00
3) 1.272 - 13600.00
Now according to my analysis, it has stretched to higher levels. Slowly the pace of nifty is also falling indicating a pattern for a retracement soon. I am expecting retracement of about 40-50% in weekly levels and this will start near about the end of December.
.
Please correct me if I'm wrong. I am still learning and this is new to me.
.
There are several PRZ zones that nifty have shown minor correction.
Levels are:
1) 0.886 - 11830.00
2) 1.132 - 12900.00
3) 1.272 - 13600.00
Now according to my analysis, it has stretched to higher levels. Slowly the pace of nifty is also falling indicating a pattern for a retracement soon. I am expecting retracement of about 40-50% in weekly levels and this will start near about the end of December.
.
Please correct me if I'm wrong. I am still learning and this is new to me.
