NIFTY ANALYSIS -- might touch 18175-18200
Nifty on 1 hour chart, Bounced from 200 days moving average.
Second point to note is this is exact 50% retracement of AB.
So as per Harmonics nifty might touch 18175-18200 soon.
Conditions for Harmonics ABCD pattern:
1. Point C(17660) should not get broken.
2. Nifty should give closing above point B (17920).
Other wise nifty will be in range between point B (17920) and point C (17660).
Second point to note is this is exact 50% retracement of AB.
So as per Harmonics nifty might touch 18175-18200 soon.
Conditions for Harmonics ABCD pattern:
1. Point C(17660) should not get broken.
2. Nifty should give closing above point B (17920).
Other wise nifty will be in range between point B (17920) and point C (17660).
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