vineet_miskin
Short

NIFTY WITH HEAD & SHOULDERS FORMATION

NSE:NIFTY   Nifty 50 Index
We can spot a clear Head & Shoulders Pattern Formation in NIFTY D1 Chart, I have used Heikin Ashi For clarity , u can even use it as your exit point as soon as it forms a bullish candle (red color)

Comments

H&S is a reversal pattern. NIFTY is going down since the last 3 weeks and 4th running. Wouldn't rely on a H&S here.
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vineet_miskin Swarnendu_Mitra
@Swarnendu_Mitra Please study the movement since 25th April
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Swarnendu_Mitra vineet_miskin
@vineet_miskin, It's the basic premise of H&S, it's a reversal pattern. If I think NIFTY will go down more, I'll look for a continuation pattern not a reversal pattern, because NIFTY was already bearish, and a reversal pattern will be bullish only. Your H&S might or might not work, that's different issue. It's about which patterns are to be filtered out.
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I AM ALSO SUPPORT YOU .. RSI,MACD ,MA AND VIX SHOWN SAME DOWNFALL TREND ..LOOK 15 MAY PATTERN AND SAME IS REPEATING ..
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righr pattern
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i am slo with you
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should not right shoulder be lower than ls?
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vineet_miskin WILYTRADER2020
@WILYTRADER2020 No, because what matters is that it’s below the head , and another thing I took for confirmation is that the neckline which was the support for the head and shoulder pattern was broke below and became the new resistance and also got retested
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WILYTRADER2020 vineet_miskin
@vineet_miskin, then it deserves a like
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