Head & Shoulder in Nifty 15minsHead and Shoulder pattern has formed in Nifty index on 15mins chart. Targets and SL are calculated. If we close above Target 2, 22000 is on the cards!
PS: I am long already. So, consider the bias.
Longnifty
NIFTYNifty is nearing it very strong support zone of 18080, very good risk:reward ratio.
Buy it in calls/future or sell puts .
Could be bought here for strong bounce back with mentioned stoploss & targets.
Long on NiftyNifty has started its up move and could possibly move up to the 50% retracement level before falling.
Long NiftyNifty can soon start it's up move. It'll break the black horizontal line and start going up. However, the count in the Bank Nifty is clearer, so an entry based on Bank Nifty would be a better idea. (The link for Bank Nifty is attached).
Long on Nifty with stoploss of 7670Nifty looks good for an upmove till it holds 7670 on closing basis
