Nifty has been making zones as per price action.
There are multiple sell pressure candle and buy pressure candle and price action is not too much positive towards immediate up movement.
A H&S pattern is seen.
How we will trade the H&S ?
We will observe the neck line. And see if the H&S is too much slanted or not. If more slanted, then the completion of H&S break down may be 60% successful.
For current scenario, if NIfty is closing below this neck line, we can target it to be too much volatile which will go down and up . And can target 10700. Below 10980, market may go down more as per the price action.
Note: I am around 2 months into trading and completely new to Technicals. Never trade based on any suggestions. It is hardly possible to make consistent profit from other's trade. These are only someone's perspective which could be wrong from another view. So Never Trade from these - Till - We understand ourselves the reason.
There are multiple sell pressure candle and buy pressure candle and price action is not too much positive towards immediate up movement.
A H&S pattern is seen.
How we will trade the H&S ?
We will observe the neck line. And see if the H&S is too much slanted or not. If more slanted, then the completion of H&S break down may be 60% successful.
For current scenario, if NIfty is closing below this neck line, we can target it to be too much volatile which will go down and up . And can target 10700. Below 10980, market may go down more as per the price action.
Note: I am around 2 months into trading and completely new to Technicals. Never trade based on any suggestions. It is hardly possible to make consistent profit from other's trade. These are only someone's perspective which could be wrong from another view. So Never Trade from these - Till - We understand ourselves the reason.
Comment:
The downmovement as predicted at the exact time, has occured and now all can book profit. and plan next
Comment:
As per price action, the downmovement will continue if NIfty goes below 11913 which will be our next shorting strategy.
Trade closed: target reached
Comment:
Brothers, the movement is as per the price action. The market is moving really fast.