Nifty : Potential Bullish Bat Formation - Long @ 8450's

NSE:NIFTY   Nifty 50 Index
Coming back to the scrips which we keep close to our hearts - Yep, Nifty's....

We have bullish bat pattern formation which is currently in C to D move, so once the move gets completed at D point we can Initiate long positions in Nifty . The other blue lines going around chart are the idea posted on higher timeframe(4h) lastweek.. that idea is still valid. But here we are breaking down to the smaller moves which is 15mins and these happens within the range of that 4h chart. Never try to catch the move from C to D bcos sometimes pattern may not complete so you may lose which will be really bad for your trading. So only enter trades @ D point of the patterns. One more thing, to be profitable there is no need to be always trading and taking positions on every swing... Quality of the trades matter the most...

Hit Likes if you agree...Thanks for your support...
Happy Trading !!
Hi..I just wanted to add something here..few years back I was hard core harmonic analyst...& its good to see some of these pattern giving good returns but one care should be taken ..the spot -"D"--which you have not mentioned comes in 8440--8450 ..& upside arrow shown..for expected movement...unless we get some confirmation or a buying should not take that, let us keep a eye of that zone 8440--8450..Going & closing below 8440...will be bad..Regards, Abhishek
+1 Reply
InsiderB AbhishekHSinghCMT
Hi Abhishek, yes you are right...
Except the lil structure we got 8445, there is no absolute reason for Nifty to stop n reverse there.

Harmonic patterns are kind of trade setups which can change your risk-reward drastically & increase your risks the moment it moves against you bcos as D point extends ,your targets get lesser but risk remains same . Harmonics are not the breakout ones, its kind of just picking up few points here n there for smaller profits & success relies on how one uses it. If someone uses harmonics they shud know what the ratio's they use for patterns & their success probability.. if they ignore then money will be gone right before our eyes.

Note : I will never vouch that harmonics is best...its one of 1000 ways available & 1 of the techs I use :) I'm glad that you shared very valid concern about patterns... Thank you..
Good One...Cheers!!!
+1 Reply
InsiderB AbhishekHSinghCMT
Thank you !
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