Long on NiftyNifty has started its up move and could possibly move up to the 50% retracement level before falling.
Niftyindex
Is Nifty 50 Forming a Head & Shoulder Pattern?The Nifty 50 Price Index has already formed the Left Shoulder and the Head completely. Now to confirm this patter just wait for the price to form and complete the Right Shoulder as well. If this pattern fully completes, then there will be a huge sell off in the market and the 9000 price mark might be tested thereafter. The price did also break the Trendline and retested it. In the alternate scenario if the price starts shooting up and does not completes the Right Shoulder then this pattern will be considered Invalid.
All my views are just technical analysis , no fundamental or sentimental analysis are taken into consideration.
Happy Trading ;)
Nifty back to the ending diagonal, way to 10,400-10,500 After a month of intense run breaking all the fib went to the reversal zone falling after testing 1.61% extension of 2016-2017 move, per my count it looks like the Wave 4 correction it is perfectly normal to fall about the range of 10,300-10500 but selling below 10,200 might consider changing the count. I still believe ther's one more move towards the dead zone before we get a real correction. Wait for C wave to unfold with some Puts
Is there a H&S pattern on Nifty?Is Nifty forming an H&S pattern? Tomorrow's trading session is crucial
