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yndesai
Apr 29, 2023 6:49 AM

Nifty Inv Head & Shoulder Long

Nifty 50 IndexNSE

Description

After good correction phase which started in Dec21 Nifty is now showing very good strength.

A very good bullish indication is confirmed due to current week's breakout above 17900.

Inv head and shoulder is now in place and we can see nifty reaching 19000 in coming 3~5 months.

Nift below 17400 will negate this assumption hence.

Last shoulder is formed with support at 200DMA which makes this a high probability bullish pattern.

Will this result into next impulse wave as discussed in linked idea needs to be seen
Comments
raghurambathula
Good analysis
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