Hello and welcome to this analysis on MUTHOOT FINANCE cmp 1130
After peaking out in NOV 2021 it gave a Head & Shoulder breakdown in JAN 2022 which lead to a Bearish Alt ABCD 1.6x breakdown.
Now after completing its Bearish Alt ABCD it has reversed with a Bullish Harmonic Alt Shark with a Long Legged Doji candle and a Positive RSI Divergence.
It could bounce back to 1200 (initial target) to 1275 where it might retest the falling trend line.
The pattern would be considered invalid below 1070
After peaking out in NOV 2021 it gave a Head & Shoulder breakdown in JAN 2022 which lead to a Bearish Alt ABCD 1.6x breakdown.
Now after completing its Bearish Alt ABCD it has reversed with a Bullish Harmonic Alt Shark with a Long Legged Doji candle and a Positive RSI Divergence.
It could bounce back to 1200 (initial target) to 1275 where it might retest the falling trend line.
The pattern would be considered invalid below 1070
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