Bullish Head and Shoulder Pattern

Nifty Media has created the bullish head an shoulder pattern on daily chart .
And it has formed in the major down trend and also took a strong support on support line.
It is a clear indication of reversal of trend but should watch for coming days
Bullish Trend will be confirmed after it breaks the 1636-1646 levels i.e. 0.61 fibo level.

This is my own analysis and should take for study or information only.

Comment:

Breaked the 0.61 fibo level with 2% move in one day.
Consolidated for few days.
Bull rally begins....

Comment:

Moved around 5% from the day when it closed above 0.61 fibo level.
Yes the bull rally has started.
Let's see till where it continues the trend.

Comment:

It have moved more than 11.8% after breakout of the neckline..

The depth of head is 11.8% from the neckline...

That means Target achieved of head and shoulder pattern.

Comment:

Today tested that last year's bullish support trend line

Comment:

Today 1 month back on this day shared my analysis.
Today Nifty Media is +4.64% up.
And +21% up from the bullish Head and Shoulder breakout.

Now moving towards 1.618 fibo level.