Inverse Head & shoulder pattern formation in nifty. It indicates a stronger bullish move above 11305 levels. According to the pattern, we will see the minimum target is 11475 after the breakout.
4 hr chart, a larger timeframe that is more significant is saying a truly different story. There is a complete down trendline resistance at this very point. And the bottom line of the channel is at below 2500 points advising that sensex may fall upto 2500 points. A disastrous move....
MrIndiaMarkets
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@rohitvermajaipur, why not extend the trendline further to zero?
Settlespider
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@rohitvermajaipur, reading this today and laughing on it
Maverick_777
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@Settlespider, Hey man! there is no need to laugh it was a genuine analysis with a resistance line in a larger time frame...ok... it may break too depending upon people's emotion.
All I want to say that if any person is thinking of putting some big money into market than probably he must consider that line being crossed otherwise he is a great dumb. That line was made by connecting points of 31 August and 18 september, the largest coorections after covid.
One should wait and can put money on the very next day if its crossed, simple, which was yesterday itself.
thetradinganimal
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@rohitvermajaipur, right..
sumannarayana
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nifty will retrace again to 11300 after hitting 11440-450, SGX nifty already showing these signs,