Nifty is forming Head & shoulders and Flag & Pole
Negative trend has started in Global markets, Fed interest rates hike, raising crude oil prices, end of bull rallies making NIFTY bearish.
Nifty is forming head & shoulders pattern according to it we can expect targets as
Target1: 16000
Target2: 15500
In 1 Month chart we can see Nifty is forming Flag & pole if it break flag
Target: 16000
Note:
Nifty will not break the patterns now because Government wants to squeeze maximum profits from LIC IPO .So it is possible only in Bullish market so we can expect Bullishness for short term
Nifty is forming head & shoulders pattern according to it we can expect targets as
Target1: 16000
Target2: 15500
In 1 Month chart we can see Nifty is forming Flag & pole if it break flag
Target: 16000
Note:
Nifty will not break the patterns now because Government wants to squeeze maximum profits from LIC IPO .So it is possible only in Bullish market so we can expect Bullishness for short term
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.