Fate of NIFTY, in daily perspective.
Nifty traded below point "D" of Ideal Harmonic "AB = CD" pattern since Last 3 trading days. Where Point "D" at 10082.9.
On Monday Made a High at 10088, above Point "D", but missed. So, 10082.9 much more Crucial.
If Bulls Take Control:
Scenario #1:
If Crossed & Settled above 10082.9
NEXT to Watch 10165.3
Where Harmonic AB = CD,
Extended D = FIB Ext 1.13 of BCD
Scenario #2:
If Crossed & Settled above 10165.3
NEXT to Watch 10255.4
Where Harmonic AB = CD,
Extended D = FIB Ext 1.272 of BCD
Scenario #3:
If Crossed & Settled above 10255.4
NEXT to Watch 10345.4 & 10474.8
FIB Ext 1.414 & 1.618 of BCD respectively.
If Bears Take Control:
Scenario #4:
If Failed to Cross & Settled below 10082.7
NEXT to Watch 9947.2 (Strong)
Though 10010.6 (Minor) Support is there.
Scenario #5:
If Failed to Cross & Settled below 9947.2
NEXT to Watch 9840.7 (Strong)
* May be witnessing some Pull Back from here
Though 9891 (Minor) Support is there.
Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
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With Warm Regards.
DSKF16.