- After reaching a high near 26,280, the index encountered considerable resistance and subsequently fell.
- A Head & Shoulders pattern is currently developing, leading to a negative sentiment in the market.
- If the neckline is broken, the index may quickly decline to the 24,000 level. This level will be critical in assessing whether the index can bounce back or if it will drop below the support level.
Note
● The neckline of the Head & Shoulder pattern has been breached.
● There is a significant possibility that Nifty may experience a decline to the 24,000 level.
Note
● Nifty is presently consolidating just above the support level.
● However, if the index falls below 24,000, we could see a continuation of the downward trend.
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🌐 goodluckcapital.com
🎖️ SEBI registered INH300006582
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📈 Trading and Investment Advice
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🎖️ SEBI registered INH300006582
🎖️ CMT(usa) & CFTe(usa) chartered
🎖️ NSE certified professionals
📈 Trading and Investment Advice
t.me/GoodluckCapital
🤝 Contact Us
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Related publications
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.