Nifty chart study
Nifty spot cmp 18207
Pre assumption of harmonic butterfly pattern formation.
leg C can retrace upto levels of 88.6%
but considering the retracement of leg B is equivalent to retracement of leg c,
can reverse from 72.2% also.
which give supply zone as marked on chart,
going ahead any 15 mins candle closing above yesterdays high would lead to bullish upmove,
but if not able to sustain above the supply zone, butterfly pattern matures around 17980 levels,
Lets see,
Pre assumption of harmonic butterfly pattern formation.
leg C can retrace upto levels of 88.6%
but considering the retracement of leg B is equivalent to retracement of leg c,
can reverse from 72.2% also.
which give supply zone as marked on chart,
going ahead any 15 mins candle closing above yesterdays high would lead to bullish upmove,
but if not able to sustain above the supply zone, butterfly pattern matures around 17980 levels,
Lets see,
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