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Mtop

M Top or Double Top Bandhan BankThe Daily chart in Bandhan Bank shows a clear-cut M Top or Double Top pattern. Note that it's a trend reversal pattern. As you can see before the M top it was bullish and After the M top it created a bearish Trend. Let's call the first candle which crosses Neckline as Point B, and the Resistant line as Point A. when the candle finally crosses the neckline after creating M Top or Double Top draw a line from point A to point B. and place it below the neckline that shows the target. It's clearly seen that it has given a significant profit of 16%.
NSE:BANDHANBNK
by rajeevpatil
Nifty Positional View Daily TFOn a Daily TF interesting swings have happened during the March month and volatility was huge which was witnessed during the month end expiry Typical M top pattern formation and the same is valid Though the closing was above the 14461 looks like some covering happened at last moment Buying seen during past two months were as not prominent as the selling pressure is clearly visible in the Daily TF where sellers are looking to dominate with good volumes Nifty has breached all the 9/21/30/50 EMA 50EMA acting as resistance Nifty if breaks the Gap zone marked in Yellow can touch 100day EMA ~14k Overall long term bullish we may see some corrections happening in Nifty till 14000 wait for the right time to buy
NSE:NIFTY
by Harshil_g