iamvaibhavkr

FINALLY FOUNDED A BETTER REASON TO LONG NIFTY

Long
NSE:NIFTY   Nifty 50 Index
335 views
Hi guys , HAPPY MAHASHIVRATRI

First of all let me tell you that most of you guys are long in nifty just because of the cup and handle pattern formed in nifty but its not a valid pattern you can confirm it on internet http://www.investopedia.com/terms/c/cupandhandle.asp
Now let me come to my analysis
Its the monthly charts of nifty where you can see a strong support/resistance trend line and also a inverse head and shoulder pattern which is more clear on weekly charts. so keeping this things in mind you can expect a target of 10000 within 6 to 12 months and any correction should be used as a buying opportunity. And please avoid my previous post of bank nifty where I am taking about major downfall. I think the beginning of new BULL RUN.

please comment below for your queries and let me know if there's any mistake in my analysis.

Comments

Good Analysis. NiFTY should expect short term correction followed by bull run to 9200 territory!
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@Nar, thanks, yeah agreed because currently very overbought
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Alternate view!
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iamvaibhavkr kailasp4u
@kailasp4u, that's nice, this view will also take nifty around 10000.
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Buddy this is not a valid pattern...HEAD & SHOULDER IS A REVERSAL PATTERN NOT CONTINUATION PATTERN....THIS IS INVERSE HEAD & SHOULDER..IT CAN NOT CREATE AT THE TOP....THANK YOU
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iamvaibhavkr biswapriyo90
@biswapriyo90, bro in some cases it also work as a continuation pattern
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ya its bull run ..
agree , my target is also 10000

Reply
iamvaibhavkr pk29121976
@pk29121976, thanks
Reply
Thanks for sharing this information
Reply
iamvaibhavkr jayanandha
@jayanandha, welcome
Reply
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