Price is forming inverted head and shoulders in an symmetrical triangle. Breakout above 101 will be huge and this multi month breakout of range consolidation. Target areas highlighted in chart.
Target levels mentioned in the chart for H&S
Please refer to chart nifty in falling wedge and mostly preparing for a healthy breakout. In every drop big players have managed to lift it up. It means they are not in mood to ditch this. Remember if you think a drop is upcoming like previous year then it's not gonna happen because crashes occur if something is on a global level. Global sentiment is still...
Sun pharma created a bullish cypher pattern and its on the way to 670!
Bank Nifty currently in a falling wedge as per small time frames. Also taking support as per Fibonacci golden ratio along with 200 sma
Price retraced and will reach target @0.7700
Fibonacci retracement shows price going to 13500. This is also the top of the upward channel. Also in the 15mins time frame inverted H&S formed which also can be seen as a bullish flag. Fundamentally 7k crs pumped in by FII on Friday can help the bullish antipitaction. DOW has another leg of up move...Taking all into consideration I foresee a bullish move ahead....
Cup & handle formation breakout confirms the price will move to my targets 504,529 and finally 590
Bank nifty full of buyers in the range of 29100-29300. Also a hammer pattern in 4hr may take the price high , breaking out with full strength tomorrow and taking price to 31000 next week ..... My view: Breakout will happen taking price to 30000 and with RBI decision on 4th Dec will help the price to retrace and then Friday will resume the uptrend to 31000
BANK NIFTY FLAG IN 1 HR....WAITING FOR A BREAKOUT