Bank nifty ascending triangle and inverted head and shoulder
Updated
Bank nifty broke ascending triangle and inverted head and shoulder, its a bull signal, Target 36550
Trade active
Trend line re-test done... Buy above 35530Comment
Bank nifty trend line retest done and it tried to break the trend line two times and failed... also perfect hammer formed at the trend line and next candle closed above the hammer... In other hand bank nifty forming a descending triangle pattern... This might be the pause in a bullish trend... In fib market taking resistance at 0.5 and next resistance will be 0.618.... Based on candle stick we got confirmation (hammer along with green candle above hammer in 15 min TF... Piercing pattern in 1hr TF).. In pattern formation we have to wait for confirmation to break descending triangle... wait to close above 35447... Stop lose will be 35235...Order cancelled
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