Nifty Breaks Down: Inverse Head-and-Shoulders Pattern Fails

Nov 13

We previously discussed the formation of an inverse head-and-shoulders pattern, which typically signals an uptrend. However, today the pattern broke down, and Nifty is once again falling. There is a trendline in place, and there is a chance that Nifty could bounce off this trendline. Currently, Nifty is moving towards the next support level at 23,335. Traders should remain cautious and monitor the market closely for any potential reversals.