Nice setup with great R:R Showing signs of strength from AB=CD and XABCD with Weekly bullish Divergence in price against RSI
Asian finally reacted. FInally on 3.618 FIB Today a wedge breakdown also happened with evening star pattern. FOllowup selling will realy confirm is this is major reversal or just one red marubozu daily candle and starts going up again
MFSL is on the imp zone. It may still go till 740-750. IF we find reversal, short is on. EW Wave count is invalid above 750
Equation is Long above 580 or short below 560 Above 580 it can go to 1.618 FIB around 600-605. Below 560, it may go donw till 515-520
Possible Wave count shows in the graph. Most likely this Last wave of the impulsive pattern. However above 14500 this wave counts are invalid. Harmonivs 1.414 FIB Level as PRZ Confluence between EW and Harmonics.
Tried to explain in the chart only. PS: For Educational and Learning purposes
Right now the question is where is wave 3 top I have just show WAVE 4 as a ref only not per FIB levels. However Wave 3 top and harmonic pattern confluence lead me to belive wave 3 top is somehwere between 1400 to 1450
Flag Pattern broke around 1850 and we achieved 2200. It reacted on FIB 1.414 with profit booking. However, trend is still strong and around 2050-2070 is a good support
Coforge reacted on 1.618 FIB Possible support around 2600 to 2650 Zone. Short only if we find reversal Trend is still strong however we may see profit booking
692 to 710 is a Possible reversal zone based on multiple Harmonics Short only if we can find reversal from PRZ, Trend is still upwards
At First retraced from 1.618 FIB and price action resistance But It broke eventually and now entered in to higher zone which may bring it around the above Red Resitance zone corresponding to 0.886 FIB. SUpport and Swing low in place
Approaching PRZ 1240 to 1280 Zone Short only based on Reversal
Multiple PRZ from 950 to 975 Fresh long only above 975 till then short candidate based on Reversal. (If we find reversal)
Flag Pattern Right at the support Rounding bottom
XABCD with 1.618 FIB 650-660 Flag Pattern breakout with pattern tgt of 650 Swing low in place around 580-585 #Learning n sharing view not an advise