INV HEAD AND SHOULDER IN NIFTY
Nifty is in Process of forming Inv Head & Shoulder
Pattern will activate above 16950
First Target 17050
Second 17150
Reason for trade
1. Above 16950 Nifty recent fall is nullified as it crosses .68 Fib level of fall
2. Nifty Wed fall was Panic reaction to RBI news
3. Nifty Support was at 16850 and currently trading above support
Idea Invalid below 16800
Pattern will activate above 16950
First Target 17050
Second 17150
Reason for trade
1. Above 16950 Nifty recent fall is nullified as it crosses .68 Fib level of fall
2. Nifty Wed fall was Panic reaction to RBI news
3. Nifty Support was at 16850 and currently trading above support
Idea Invalid below 16800
Order cancelled
Did not Activate
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