Kotak bank has formed a Head and Shoulder pattern. The neckline is shown
using a rectangle tool. Price may go decisively down, if breakdown occurs.
I don't know what would be the trigger but what I feel that a value area
may come around 1450-1480.
Please do you own analysis before going for trade or investment. I bring
it as I seen this pattern.
Disclaimer: I...
NIFTY-50 is in C major wave of the abc correction.
We have completed wave 1 and 2. We are currently in wave 3 of C out of which we have completed inner wave (i) of 3. And again we are in wave 2 of major wave 3.We can expect nifty to retrace upto 17330 then we will continue to downtrend.
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Regards
After some historic price movement looks like triangle pattern on longer time frame is complete.
On examining the waves in smaller TF it looks like leading diagonal is in formation indicating start of upward move.
Possible wave count is plotted on the chart.
