Here this chart is expaining itself The pattern on the right is a Bullish Harmonic / AB=CD Continuation Pattern developing off the ₹80 bottom:
Initial Rebound to B: Following the reversal at ₹80, the price rallied to form peak B near ₹115.
Strong Resistance ("strong res"): The blue horizontal line at ₹115 acts as a major resistance zone that the price must clear to sustain momentum.
Higher Low at C: Price pulled back from ₹115 to form Point C around ₹90, bouncing off the 0.618 Fibonacci retracement level. This formed a crucial higher low.
Projected Target at D: The projected CD leg points toward Point D near ₹140, based on the 1.246 and 2.000 Fibonacci extension projections.
Key Technical Takeaways
The weekly chart shows a bullish structure. The stock successfully reversed at ₹80 (Left Pattern D) and formed a higher low at ₹90 (Right Pattern C).
If the price breaks out above the ₹115 resistance zone, it confirms the continuation toward the pattern target of ₹140. Conversely, a breakdown below ₹90 would invalidate this harmonic setup.
this is not buy/sell call, its information sharing only.
Initial Rebound to B: Following the reversal at ₹80, the price rallied to form peak B near ₹115.
Strong Resistance ("strong res"): The blue horizontal line at ₹115 acts as a major resistance zone that the price must clear to sustain momentum.
Higher Low at C: Price pulled back from ₹115 to form Point C around ₹90, bouncing off the 0.618 Fibonacci retracement level. This formed a crucial higher low.
Projected Target at D: The projected CD leg points toward Point D near ₹140, based on the 1.246 and 2.000 Fibonacci extension projections.
Key Technical Takeaways
The weekly chart shows a bullish structure. The stock successfully reversed at ₹80 (Left Pattern D) and formed a higher low at ₹90 (Right Pattern C).
If the price breaks out above the ₹115 resistance zone, it confirms the continuation toward the pattern target of ₹140. Conversely, a breakdown below ₹90 would invalidate this harmonic setup.
this is not buy/sell call, its information sharing only.
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Penafian
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.