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Nifty 50 Index
Short

Head and Shoulder Formation on the daily chart of nifty

Nifty Daily chart is forming H&S pattern at the top. If the support of 24800 is broken on the closing basis then the next support level for nifty seems 24000 & 23500. RSI already showing weakness. Be cautious on taking long position in Nifty.
Note
Neckline borken for H&S pattern. next support 24000/23800.
ashokgolecha1710
Chart PatternsTechnical IndicatorsTrend Analysis

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Chart PatternsTechnical IndicatorsTrend Analysis
ashokgolecha1710

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.