Nifty Short term - Head N Shoulder Pattern - 21 April 2022
Hi.
Its a 2 hour Chart, and we can see that, it seems to a Head and Shoulder pattern, with most of the pattern aready completed.
Now the Right Shoulder is forming, which should not break the highs of 17442. (If it breaks then the pattern is invalid).
Now the High from the Head is 18090 and the lows of the right shoulder is around 16978.
Which gives a total points of 1116 points.
So in this case if the lows of 16978 (to be safe another 20 - 30 points down), which gives a leniancy of 16950, below these levels we can think of a target of 1116.
Which gives a target of around 15800-15850 levels as the target.
Now we wait for 17442 to be held , if not, then wait for the break of 16950.
Disc : For educational Purpose Only.
Its a 2 hour Chart, and we can see that, it seems to a Head and Shoulder pattern, with most of the pattern aready completed.
Now the Right Shoulder is forming, which should not break the highs of 17442. (If it breaks then the pattern is invalid).
Now the High from the Head is 18090 and the lows of the right shoulder is around 16978.
Which gives a total points of 1116 points.
So in this case if the lows of 16978 (to be safe another 20 - 30 points down), which gives a leniancy of 16950, below these levels we can think of a target of 1116.
Which gives a target of around 15800-15850 levels as the target.
Now we wait for 17442 to be held , if not, then wait for the break of 16950.
Disc : For educational Purpose Only.
Comment:
Now if goes below current lows...can expect the drop, till then lets enjoy the ping pong