The introduction of the index into derivatives has come with a Bearish Alt Bat Harmonic pattern formed in Weekly Time Frame. A daily close below 15475 could lead to long unwinding that might make the index retest 15000 / 14000. The view would be negated if it breaks above 15700 on hourly closing basis (after activating a down move)
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Failure to hold 15300 would not be good for it in the short term
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Minimum expected retracement done today. Sustaining below 15000 on daily closing basis could take it to 14600
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It completed 2nd expected level of 14600 and gave an hourly Bullish Harmonic Bat reversal
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