Nifty Preparing for H & S on weekly TF

Apr 24, 2023

Last week a bearish engulfing candle was formed on nifty. Nifty on weekly TF looks to be preparing for the H&S pattern. once the neckline which is around 16870 is breached, the H&S will be activated and one can go short with the sl of high of the breakdown candle. for the tgt equal to the height of the head from the neckline which is approx 2,000 points in this case.one can opt for the early entry now with the sl of 18760 on daily closing basis and trail SL on daily basis.