Hello and a warm welcome to this analysis on Nifty.
It has activated a Bullish Harmonic AB=CD which is suggesting a bounce back to 17600-17800 from these levels. The view would get negated if it trades below 17175
Harmonic Patterns are based on specific Fibonacci ratios which when found in Market Geometry shapes lead to change of trend - bounce/reversal as long as the ratios & shape remain valid.
It has activated a Bullish Harmonic AB=CD which is suggesting a bounce back to 17600-17800 from these levels. The view would get negated if it trades below 17175
Harmonic Patterns are based on specific Fibonacci ratios which when found in Market Geometry shapes lead to change of trend - bounce/reversal as long as the ratios & shape remain valid.
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1st trgt done
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