amolshirguppe

BankNifty Formed Head & Shoulder pattern on 5min

NSE:BANKNIFTY   NIFTY BANK
Bank Nifty Formed Head & Shoulder pattern on 5 min time frame on 17/02/2021. Bank nifty is on neckline, waiting for breakout ...
Trade active: Bank nifty brock neck line of head & shoulder pattern, retested neck line & moving towards target of head and shoulder.
in my onion If bank nifty reach its head & shoulder target & move back in its original upward trend then it will be retest of flag pattern on Daily time frame.
Trade closed: target reached: Head & shoulder pattern target achieved
Comment: Bank nifty down 1700 points from head and shoulder neckline
(actual target 530 points from neckline)

Comments

Don't go for short BN is still bullish.Market will be sideways tomorrow check open interest.Its best to trade between today's high and low when a rejection seen from both high and low.
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amolshirguppe anoojpushpakaran
@anoojpushpakaran, Definitely i will not. it should break neckline & it should take resistance of neck line then only i will initiate sell for short target
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