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Reubeneustace

Nifty 50 | Head &Shoulders Pattern – A Breakdown Ahead?Hello everyone! I hope you all are doing great in life and in your trading . Today, I have brought an in-depth analysis of Nifty 50, focusing on a powerful Head & Shoulders pattern that is currently forming on the charts. This pattern is known for signaling a bearish reversal, which increases Supply in the market pushing prices downside. If this pattern plays out as expected, we could witness a strong Downside move in the coming sessions. Currently nifty is trading at 23,340 levels Where previously buyers had shown interest pushing the market gap up following this pattern is selling pressure these buyers could Exit their position Pushing prices to 23,232 (Target 2) and 23,134 (Target 3). Disclaimer:-This analysis is for educational purposes only. Please trade responsibly and consult a financial advisor before making any decisions. If you found this analysis helpful, don’t forget to like, follow, and share your thoughts in the comments below! Your support keeps me motivated to share more insights. Let’s grow and learn together—happy trading!
NSE:NIFTY
by REUBEN_EUSTACE
NIFTY 50 I Falling Wedge Pattern + Bulllish Divergence Nifty 50 Index is currently trading within a very important zone in simple words called area of interest Usually consisting of demand or supply zone. This level has acted as a solid base for the index. The NIFTY 50 index presents a promising opportunity to initiate long positions at these levels (CMP23,000), Aligning well with the risk reward ratio and making it a favourable entry point for traders looking for Taking advantage of the upcoming trend. The index has shown a pattern of forming lower highs and lower lows, which indicates a downtrend. However, the Relative Strength Index (RSI) is showing a contrasting pattern of higher highs and higher lows. This divergence between price action and RSI suggests a potential shift in momentum and a possibility of a short covering rally. Adding to this I see a falling wedge pattern which is a bullish signal suggesting an upward price movement which typically appears in a downtrend and often seen as a bullish Reversal pattern. The analysis holds true when price close above 23,824 - daily timeframe. While entering on current levels also has good opportunity of risk reward ratio, I suggest looking for a pin bar candle on today's close will Confirm Market picking support from the levels . Conversely if nifty 50 index continues to recover, We could see a push towards 24,200 and 24,800 Which represent key Resistance areas. A good breakout above these levels likely signal Continuation of bullish trends in the indian markets.
NSE:NIFTYLong
by REUBEN_EUSTACE
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