Nifty : Head & Shoulders Not the shampoo... !

NSE:NIFTY   Nifty 50 Index
So today in Nifty 15 mins we can expect the breakout of head and shoulders pattern and a move downside. Why we are expecting downside breakout ? Well, then only My last two days post will be right prediction :) We have same amount of chances to take support on trendline and move up. So watch Nifty carefully, won't you love it if the breakout happens & get a ride on Bear's Back ? Don't worry, just hope bears will hug us, not squeeze...

If trendline support is strong on valid bullish reversal initiate longs in Nifty probably any one scenario will be over by today I guess but lets watch what plans Nifty have... As mentioned in Nifty chart keep watch on zone 8720's to 8740's...

Premarket Update : Nifty opened @ 8768... Head & shoulders may work or fail.. Let's give fair chances for Failing analysis also :)

Happy Trading !
Comment: So our 3 days post worked... check this guys :
Comment: Pattern Invalidated !
breaking of neck line v enter wave 3 ? so ideal target 1.618 times length of 1 is 8660?
SohilShah SohilShah
cud be A-B-C instead of 1-2-3 (ongoing)?
InsiderB SohilShah
@sohilshah, Yes you are right in your analysis :)
InsiderB SohilShah
Just take care of stops placement.
SohilShah InsiderB
sir your 8720 broken . will market be on downside
+1 Reply
InsiderB priya61
Yes next support around 8700's, I will update in few mins
InsiderB InsiderB
check this guys :
InsiderB InsiderB
oh added in comment section :)
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