SNP index CASE study
SNP spot cmp 4020
Harmonic study
Time frame :- 120 mins
Bearish shark pattern formation
potential reversal zone at 4058 (pattern maturity)
Reversal confirmation below 4000 levels on closing basis
View valid till index sustain below 4120 levels on closing basis
Down side retracement possible till levels of 3900-3800-3700
Time horizon :- 7-10 trading sessions
Index is at resistance zone as per harmonic study, Bulls need to be cautious.
Harmonic study
Time frame :- 120 mins
Bearish shark pattern formation
potential reversal zone at 4058 (pattern maturity)
Reversal confirmation below 4000 levels on closing basis
View valid till index sustain below 4120 levels on closing basis
Down side retracement possible till levels of 3900-3800-3700
Time horizon :- 7-10 trading sessions
Index is at resistance zone as per harmonic study, Bulls need to be cautious.
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