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CSB68

NIFTY-Head &Shoulder Bearish Pattern

Short
Nifty 50 Index (NSE:NIFTY)  
CSB68 Updated   
NSE:NIFTY   Nifty 50 Index
Technical Indicators Trend Analysis Chart Patterns
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indicator trendanalysis chartpattern
NIFTY: Formed a typical Head &Shoulders pattern with neckline support at 19200 and is a bearish pattern.
If NIFTY fails to hold on above 19200-250 on a closing basis,as per the H&S Pattern the next support and TGT lies at 18300.Market likely to witness ell on rise till it starts trading above 19500 levels.(For educational purpose only)
Comment:
AS projected sell on opening rise happened.NIFTY it seems moving towards its fresh 200DEMA falling at 18800 and if it does not hold might test 18500-600.pattern & set up looks weaker till it holds above 19300 levels(For educational purpose only)
Comment:
NIFTY -Still looks weaker nd bearish. resting on its 200 DEMA ,long bearish candle indicates it might slide towards 18500,(for educational purpose only)
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