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Chaser30
Aug 4, 2022 3:43 AM

Multiple Reversal patterns in Nifty IT !!! Long

NSE:CNXIT1D
Nifty IT IndexNSE

Description

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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.
Trend AnalysisChart PatternsTechnical IndicatorsCNXITreversalDouble BottomInverse Head and Shoulders
Comments
johntradingwick
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This publication has been chosen for the Editor's Picks and will be featured on in.tradingview.com/ideas/editors-picks/.

Thank you for your valuable contribution to the Tradingview community and keep up the good work!
Chaser30
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@johntradingwick thanks a lot
vip1173in
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Nice good thing taught
Chaser30
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@vip1173in thanks for appreciation
aurom2000
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very helpfull plzz keep posting this type of content can u tell me what is the island reversal pattern
Chaser30
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@maheshjangid9571 island reversal is a reversal pattern in which some range of prices is separated by gaps. first gap is exhaustion gap and reversal starts from breakaway gap. HOPE THIS HELP YOU.
TheNewsCrypto
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Simple and Neat Analysis
Chaser30
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@TheNewsCrypto thanks bro
TheNewsCrypto
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@TheNewsCrypto
DynastyCapital
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very helpful, thanks for sharing
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