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Head_and_shoulder

NIFTY50NSE:NIFTY got stiff resistance around 11860 levels, moving above head of hypothetical pattern will make the pattern invalid and holding above it for sometime will only push stock towards 11935/65/00 levels. If the H&S pattern comes into action, index may fall towards neck line of the pattern and if breaks and hold below neckline may push further down towards 11450 levels. SUMMARY- Holding above 11860 ---> 11935 ---> 11965---> 12000 If H&S is valid then from current levels expect fall for targets 11725 ---> 11660 (neckline) --->11625 Consider 11625 as crucial support because ---> 1. The first reversal pattern has failed from the same level. 2. It has gap up formed on 20th may (exit polls), which will act as support and the height(target) of the head of second continuation pattern. 3. Again, at the same level it may form double bottom or ugly triple bottom. Holding below 11625 for sometime----> 11450 REGARDS, SHARMA YOGESH
NSE:NIFTY
by yogi_sharma_elliottician
Global Slowdown Ahead - Head & Shoulder Pattern NASDAQ vs NIFTYBoth NASDAQ and NIFTY is forming head and shoulder pattern on weekly chart and there seems to be strong correlation between these two. Both are at top of right shoulder. Two macro economic development 1) ECB lowers growth forecast 2) 20% down in Chinese export due to subdued demand Liquidate positions in equity and invest into debt fund. There will be sharp and strong correction in coming weeks across global markets.
NSE:NIFTYShort
by trademanthan
8
Elliot Wave Correction In Nifty Wid Head & Shoulders ConfirmatinNifty is in Elliot's wave since 2016, This is the last wave of correction. (Weekly Charts) The best part is, a Head n Shoulder at the End, Which mostly occurs in Elliot Wave (if no harmonic chart patterns are found). On a larger scale also, NIfty is in Elliot's wave on Monthly charts. (Haven't covered here) Nifty after touching 11,200-300 can shoot around 9000-9400. Hence the stocks in Indian Stock Markets will follow.
NSE:NIFTYEducation
by usamabintanveer