GIFTNIFTY - BULLISH CRAB in play 23430 or 23100?

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GIFTNIFTY CMP: 23520
TF: 15 minutes

Bullish Crab Harmonic Pattern is observed on this counter in 15 minutes TF

Whether it is going to stay a regular CRAB or DEEP Crab is based on how it reacts at the 23430 and 23380 levels.

Regular CRAB is marked in Red and the other one is DEEP (in BLUE)

The regular will end at 0.886% at 23430 retracement level of the entire up-move; whereas, The DEEP Crab will go to 1.618% extension of the XA leg at 23091.

For that to happen, price must break the X point at 23382 first

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Broken X leg.. 23100 is next.. NIFTY SPOT is also same as GIFTY trade accordingly

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Harmonic Patterns

I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
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