NIFTY

17 set

Hello & welcome to this analysis

On the eve of FOMC meet, the index has today covered the gap down made on July 11th and entered the potential reversal zone (PRZ) 25350 - 25425 of two bearish harmonic patterns - Butterfly (15m) & Gartley (daily).

Reversal confirmation as of now is once it starts giving a 60m close below 25225.

Pattern gets negated above 25525.

All the best

Regards

24 set

Trade attivo

Minimum expected pullback is done from this Gartley pattern. More weakness below 24950

26 set

Trade chiuso: obiettivo raggiunto

Nifty has done its expected 62 Fibonacci retracement of the SEPT rally. It has now entered the PRZ of a bullish Reciprocal ABCD pattern. Short covering above 24925 spot (as of now)