CNX PSU BANK index spot cmp 3945
Chart pattern study
Daily time frame.
Ascending inclined head and shoulder pattern formation.
Currently formation of right shoulder is ongoing ,
any rise on higher side would face selling pressure till the high point of right shoulder is not taken out on daily closing basis.
On lower side nearest support can be taken as the support of neckline.
Further trend can be decided on price action around neckline levels.
Keep watch.
Chart pattern study
Daily time frame.
Ascending inclined head and shoulder pattern formation.
Currently formation of right shoulder is ongoing ,
any rise on higher side would face selling pressure till the high point of right shoulder is not taken out on daily closing basis.
On lower side nearest support can be taken as the support of neckline.
Further trend can be decided on price action around neckline levels.
Keep watch.
