Nifty 50 IndexLong
Inverse head and shoulder bullish pattern on NIFTY
A postive divergence on RSI
Testing last major swing which is also the neckline of the head and shoulder pattern and the lower lowers and lower highs pattern of the index.
Successful break of the resistance with good volumes can lead to NIFTY going again to all time high zone.
I can see index spending some time around resistance before breakout.
Stay cautious. A good trade opportunity can emerge with patience.
Time frame 2 months.
Testing last major swing which is also the neckline of the head and shoulder pattern and the lower lowers and lower highs pattern of the index.
Successful break of the resistance with good volumes can lead to NIFTY going again to all time high zone.
I can see index spending some time around resistance before breakout.
Stay cautious. A good trade opportunity can emerge with patience.
Time frame 2 months.
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