praveen.bhatiya

Head & Shoulder Breakout

Short
NSE:BANKNIFTY   NIFTY BANK
The Chart has nicely formed the Head & Shoulder pattern and closed below the Neckline. It seems a valid pattern that gave breakout and one can use the current pullback to short the index for a good risk to reward ratio.

Comments

Waah what a view sir it a blast today
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you got my Point.!
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YOU ANALYSIS LOOKS CORRECT BUT IF YOU NOTICE IT HAD ALREADY BROKE31037 LEVEL AND MOVED UPWARD TO CATCH A NEW RESISTANCE LEVEL.
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@Fioaby54, Thanks for pointing out. I have not taken the position yet but it is on my watch list. Some pullback is normal so I still consider it a valid pattern and would trade on seeing weakness.
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