Amaraja Batteries, 4 Hour chart, Harmonic Pattern
As you can see Amaraja batteries moving in Rising channel, cmp 756 and channel support is near 740, with respect to Bearish butterfly harmonic pattern , point no. A-B and if C holds @ 735 (where support trendline is also seen) it will again move up to complete the pattern. Target is coming around 835 with SL at 725 DCB. Risk to reward is 1:10
if we check Weekly chart, it is forming Flag pattern, where flag pattern breakout for new trend, and will establish above 830 if withstands.
Remember this pattern is valid only if point no. C holds, hence PRZ @ 735, if it respects will be updated here in same thread.
Sharing this for education purpose only.
if we check Weekly chart, it is forming Flag pattern, where flag pattern breakout for new trend, and will establish above 830 if withstands.
Remember this pattern is valid only if point no. C holds, hence PRZ @ 735, if it respects will be updated here in same thread.
Sharing this for education purpose only.
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