Head & shoulder pattern is in formation in 240 mins. A short can be initiated with a stop loss of 9940 for target of 9480 & 9180 .
As price level of 10000 is rejected two times in two days. Bulls are not able to extend the pull back from 200 ema in 240 . So breakout seems quite possible . To see bullish momentum 10000 level should be crossed with heavy volume which doesn't seem yet so a negative view is good for trading.
As price level of 10000 is rejected two times in two days. Bulls are not able to extend the pull back from 200 ema in 240 . So breakout seems quite possible . To see bullish momentum 10000 level should be crossed with heavy volume which doesn't seem yet so a negative view is good for trading.