Hello and welcome to this analysis Nifty today activated not one but two bearish reversal signals. First it activated a Bearish Harmonic Alt Shark (double confirmation if price sustains below 18350) for suggested downside levels of 17750/17250. This pattern would be considered negated above 18575. Second it coincided with an Ichimoku Price and Time axis...
Harmonics cannot tell lies. If the 0.886 resistance holds, we may just have our view of the top from here. Bears: 5 Bulls: 0 Pigs: Whipsawed Again -NeedToConverttoaPermaPredator SPCFD:SPX CURRENCYCOM:US500
Trade with the preferred levels, According to my analysis nifty will fall until its peak break two red lines are strong resistance level & two black lines are Potential reversal zone PRZ aggressive traders can enter now, with break of second red line with heavy volume as your stop loss adjust your position with the preferred levels with your risk management safe...
The The overall trend is bearish. Fibs was drawn on the main major swings and prices rallied to our 88 fib level where reversal is common. It so happens that a bearish harmonic pattern has formed. Stay tuned!