Nifty Harmonic pattern and Crab Pattern Analysis

By | May 3, 2014 5:10 pm
13 Comments

Lets analyze Nifty future move for May month using Harmonic pattern using AB=CD and Crab Pattern.

Nifty Harmonic pattern

NIFTY - Nifty Weekly Harmonic -

The Harmonic pattern bearish AB = CD formation

 

  1.  AB leg is from 5118 to 6415 took 16 Weeks to form with a rally of 1313 points.
  2. BC leg is from 6415 to 5933 (which is 38.2% retracement of 5119 to 6415)
  3. CD leg will take another 16 weeks to complete and rally of 1313 points

So Target of CD leg comes at 5933+1313 =7246 and Time Frame comes at 16 Weeks , Currently we are in 13 week so in next 3 weeks if this pattern stands valid we can see an upmove till 7200-7250.

 

Nifty Crab formation

NIFTY - Crab

The Harmonic pattern bearish crab formation is also in making and will get activated only above 6869 NS

  1. XA leg is from 6338 to 4531 with a rally of 1802.
  2. AB leg is from 4531 to 5630 (61.80% Fibonacci retracement).
  3. BC leg is from 5630 to 4770 (78.60% Fibonacci retracement).
  4. CD leg is likely to complete around 7500 level (161.80% Fibonacci retracement of XA leg.)

So once 6869 is broken initial target of pattern comes around 7020(261.8% of BC leg) and sustaining above it 7447 (which is 161.8% of XA leg). Once the target is achieved Nifty can see a fall around 6400-6500 where 200 DMA will exits.

 

13 thoughts on “Nifty Harmonic pattern and Crab Pattern Analysis”

  1. Kumar

    Will this analysis hold good for a fall now ?

    Im a regular reader of your website ..

    Please reply..

    Regards,

    Kumar

    Reply ↓
  2. Ajay

    Hi Brahmesh,

    In the bearish crab chart, XA= 6338-4531= 1807. Correspondingly, 1.618 XA should be 4770+1.618*1807= 7661, instead of 7447.

    Did I get the calculations right?

    Thanks for the posting.

    Ajay

    Reply ↓
  3. Hiren

    Thanks !

    Had only read about harmonics in books, have come across first time that someone is applying it to understand how it works.

    Thanks

    Reply ↓
  6. Basha

    But the truth is all the stocks are breached their quarter low
    So if techinal works mean so there is no need for waiting de news, so my suggestion will modi can win in this election but can’t show with majority wins so now only de real game starts and also another side at any time we have to face the ukraine and russian problems too this lokshabha reulsts will affect nifty it will makes worse all lets wait and see (Make it Simple)

    Reply ↓
  12. Sudhindra

    Bramesh,

    Looks like harmonics are hinting at “Ab ki baar modi ki sarkar” 🙂
    Good post …have not seen anyone posting harmonics for nifty.

    Regards
    Sudhindra

    Reply ↓

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