ROUNDING BOTTOM LIKE PATTERN IN NIFTY 50NIFTY 50 HAVE TESTED THE 11300 LEVEL AND ANY MOVEMENT ABOVE THIS CAN TAKE IT TO 11500 LEVEL.
ONLY FOR EDUCATIONAL PURPOSE.
NIFTY-NSE
Nifty long-term chart analysis give a story from 2000 to 2020.Following patterns are found for data of 2015 to 2019 (5 years data) on weekly candle chart.
Channel pattern
Flag Patterns
Currently running Head and Shoulders pattern
Remarkable zone 1, 2 and 3
Head & Shoulders pattern is still uncompleted with right shoulder. The neckline target is 10063
At the remarkable zone, its has highly price rotatio n detected with tails
As per channel pattern , the range is 12600 to 10900. The gravitating target 12000 for nifty.
Conclusion, break 10900 below nifty can draw more downward.
History may not repeat itself, but Chart pattern gives you data points and insights to understand how the market can behave in the future.
Weekly candle chart for the spot NIFTY from 2000 to 2020 until the present. Patterns, uptrend, downtrend, or sideways trend, etc are drawn. We have divided this data in 5 years data chart. Comparing the four charts that We have generated, conclusions was written. There're many similarities and difference was found. We can get clear picture of NIFTY for next price move.
Case 1 (2000-2005)
Lot of time and brainpower attempting for technical analysis.
Case 2 (2005-2010)
Technical Chart patterns on nifty.
Case 3 (2010-2015)
Chart the weekly data for the NIFTY.
