BankNifty : A bearish H&S shoulder pattern's confirmation
Banknifty will confirm it's breakdown of H&S pattern by not closing above 47200.
If unable to close strongly above it. Then a very bearish rally start then it may fall again upto 44000.
If it closes above 48300 then a fast and furious rally upto 50200 level may reach in no time.
If unable to close strongly above it. Then a very bearish rally start then it may fall again upto 44000.
If it closes above 48300 then a fast and furious rally upto 50200 level may reach in no time.
Trade active:
For educational purpose
A head and shoulders pattern has four components:
After long bullish trends, the price rises to a peak and subsequently declines to form a trough.
The price rises again to form a second high substantially above the initial peak and declines again.
The price rises a third time, but only to the first peak level, before declining again.
The neckline, drawn at the two troughs or peaks (inverse)
A head and shoulders pattern has four components:
After long bullish trends, the price rises to a peak and subsequently declines to form a trough.
The price rises again to form a second high substantially above the initial peak and declines again.
The price rises a third time, but only to the first peak level, before declining again.
The neckline, drawn at the two troughs or peaks (inverse)