It seems that Bullish Cypher harmonic Pattern (which is highly reliable and accurate) is under formation in DHFL. Leg XA, AB, BC has been formed and Leg CD is under formation. If the prices touches and reverse from 220 ( Potential D point, which is at 0.786 retracement of XA) , it would validate the pattern. If price goes below the 220, it would invalidate the pattern.
On 19th December, DHFL has given a breakout and given a good up-move. Expecting it it continue the Up_move after reversing from point D.
Declaimer : This analysis is for education purpose only.
On 19th December, DHFL has given a breakout and given a good up-move. Expecting it it continue the Up_move after reversing from point D.
Declaimer : This analysis is for education purpose only.
Yorum:
Pattern is valid as the stock has completed the CD leg as predicted.