Chaser30

Multiple Reversal patterns in Nifty IT !!!

Long
NSE:CNXIT   NIFTY IT
As visible on charts CNXIT has given a breakout from multiple reversal patterns
which are Island Reversal, Double Bottom, Inverse Head & Shoulder.

CNXIT has formed double bottom around 26450 along with RSI divergence
and finally given its breakout at 28600.

The index fell with a gap and also reversed with a gap hence, leaving
behind an island and showing an island reversal pattern.


Along, with above two patterns, inverse head & shoulder are also visible
which further conforms to a reversal in the IT sector.
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