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📊 Technical Analysis
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Key Points:
Head and Shoulders Pattern: This is typically a bearish reversal pattern when it occurs at the top of an uptrend, suggesting that prices may continue to drop after breaking the neckline.
Neckline: The horizontal support level (in red) that has been broken or is at risk of being broken, which could confirm the downtrend.
Volume: It is often useful to...
Description:
We are currently observing a classic Head and Shoulders pattern forming on the Nifty 50 index. After a sustained downtrend, the price action has formed a well-defined left shoulder, head, and right shoulder, signaling a potential reversal.
Key Points:
Head and Shoulders Pattern: The index has formed this bearish reversal pattern, which often...