NIFTY BROKE DOWN FROM [HEAD AND SHOULDER] PATTERN - (SELL)

Nov 17, 2024

1. TECHNICAL INDICATORS - HEAD AND SHOULDER PATTERN :
   Nifty had broken down from a head and shoulder pattern on 22nd october with a large red candlestick confirmation
   
   MACD :
   MACD had shown proper bearish crossover on 1st october and macd line had stayed below signal line since then continuously confirming bearish momentum
   
   TARGET :
   till 23350 if the momentum continues
   
2. FUNDAMENTAL INDICATORS -
   concerns among investors regarding upcoming maharashtra elections is causing market sell-off as its a major economic state in india and could see policy shifts after new government comes in power which may affect sectors closely tied to government decisions
   

Nov 19, 2024

Trade closed: target reached

market had reached till 23350.40 which is 0.40 points above the target 23350 hence position should be closed now