rohitkatwal

Inverted Head and Shoulder + Rejection/Resistance at 10350

NSE:NIFTY   Nifty 50 Index
162 0 5
snapshot

On NSE:NIFTY             I wanted to go long with my positions above 10350-10360 zone. That was exactly +53 point and +60 point on Nifty             for the day. I have to admit, market kept me on the edges.

We have now an Inverted Head and Shoulder on 2 Hourly chart plus a strong resistance at 10350-10360. Breaking of this point is must for conviction in the further bull rally.

Also we have support at 10280, which must be broken for further bear rally.

Till then we can see volatile swings on both sides.
Comment: Third Test on the neck line.
Comment: Again a false breakout i suppose...keeping an eye....
Comment: Surrendered highs....
Comment: Between 10260 and 1035 market makers are just playing with the market. Somebody is getting trapped.
Trade closed manually: Can go Short. Every rejection to upside is more conviction to downside. Closing this thread.
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