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praveen.bhatiya
Jan 24, 2020 9:31 AM

Head & Shoulder Breakout Short

Nifty Bank IndexNSE

Description

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
kankawarkishor
Waah what a view sir it a blast today
Fioaby54
you got my Point.!
Fioaby54
YOU ANALYSIS LOOKS CORRECT BUT IF YOU NOTICE IT HAD ALREADY BROKE31037 LEVEL AND MOVED UPWARD TO CATCH A NEW RESISTANCE LEVEL.
praveen.bhatiya
@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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