jvpandian

Nifty Spot on a Head and Shoulder pattern

Short
NSE:NIFTY   Nifty 50 Index
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7
Will Nifty Spot fall till 7295 - 7272 if it closes below the recent low of 7216 for 3 days? Could 7744, 7596 prove to be the milestones on the downside? 7272 being 78.6% retracement on daily chart
Comment: Nifty could not close below 7916 for three days to fall 621 points... Because it could not break, it rocketed almost same size on the upside to test 8461.05...
Comment: From 7918 when it was posted to 10800 now... More to come

Comments

Thanks for all the views... The critical part of it is to break the neckline and close below for few days... So far it didn't
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jvpandian jvpandian
@jvpandian, it didn't closebelow the neckline for few days and jumped 400+ points on the upside..!
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Monthly chart has already formed double top. In the above setup price will break the trendline and market is expected to go down further. Good observation on H&S pattern. Keep up the good work
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Nice observation sir.I hope your target will come soon
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Please read recent low 7216 as 7916
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