Head_and_shoulder
Nifty Dual Head & Shoulder Pattern !!TREND ANALYSIS & TRADE SETUP
Wave Analysis.
Head & Shoulder Chart Pattern.
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for entry setup, if available then Long/short.
Reward is 8-10 Times
EicherUnless the monthly candle manages a close above 15200 this bearish H&S breakdown is suggesting 11500-12000 (Ichimoku support + 62%) and if that gives way then all the way down to 5000. Please don't forget this is a monthly time frame outlook. It can take all the sweet time in the world to get there.
MOTHERSUN SUMI is creating a head and shoulder pattern, SELL?Please let me know the position so that I can guide you better.
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
HDFC RESULTShdfc having Head and Shoulders in daily chart. Support at 200 sma, Resistance at 100 sma.