Nifty Down to 18000 range ??!!!

Chart pattern insisting the opinion titled above!!

Reasons:

1. 9th December Day Candle - Bearish engulfing candle with wick at bottom ( but low got tested the next day).

2. H&S pattern in process (right shoulder yet to form).

3. Major Trendline resistance above.

Target and Sacred SL mentioned in chart !!


Let's see how it moves!!!

Note - Just sharing my probable view....not a tip nor advice!!!!!

Comment:

SL reached....still H&S pattern prevails....
bulls lacking momentum may favour bears.
Strong day close above 18720 may favour bulls.

Comment:

looks like forming the right shoulder...

Comment:

Formed the H&S pattern perfectly...breakdown too!!!

Trade active

Comment:

NEARING THE TARGET...

Trade closed: target reached:

Next target can be next gap filling move till 17850!!

Comment:

Market doesn't like Gaps....once again proving it!!!! 2nd target achieved!!!