Short

NIFTY BROKE DOWN FROM [HEAD AND SHOULDER] PATTERN - (SELL)

Updated

TECHNICAL INDICATORS - HEAD AND SHOULDER PATTERN :
Nifty had broken down from a head and shoulder pattern on 22nd october with a large red candlestick confirmation

MACD :
MACD had shown proper bearish crossover on 1st october and macd line had stayed below signal line since then continuously confirming bearish momentum

TARGET :
till 23350 if the momentum continues
FUNDAMENTAL INDICATORS -
concerns among investors regarding upcoming maharashtra elections is causing market sell-off as its a major economic state in india and could see policy shifts after new government comes in power which may affect sectors closely tied to government decisions

Trade closed: target reached

market had reached till 23350.40 which is 0.40 points above the target 23350 hence position should be closed now

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