Kotak bank has took out the strongest supply zone and also broke the previous swing high with good volumes.
The harmonic ABCD pattern gives us the targets of the next swing high. If these targets are taken out, the AB=CD pattern gives us the fib ratios until 3.618 when the AC is around 0.384 AB.
So there is a lot fuel left for the rally which could lift the Bank Nifty even more.
Buy in a pullback for better risk reward ratio.
Happy trading :)
This is just for educational purposes.
The harmonic ABCD pattern gives us the targets of the next swing high. If these targets are taken out, the AB=CD pattern gives us the fib ratios until 3.618 when the AC is around 0.384 AB.
So there is a lot fuel left for the rally which could lift the Bank Nifty even more.
Buy in a pullback for better risk reward ratio.
Happy trading :)
This is just for educational purposes.