M&M ( leading auto sector brand ) is making a head and shoulder pattern in its daily chart and could go below 1000.
One can buy january puts or short future according to thier risk management ......
This is only my assumption please do your own anaylsis before trading..........
We already saw a rising wedge and a sharp fall from 16200 to 15800 in the previous post. I believe a short covering might happen in the market from around 15700 as it was the previous low for nifty (15671). We can expect the short covering to 16200 and might go towards 16400 and then start falling again to make a new lower low in the market which will be below...
Nifty 50 Spot is making higher lows but is not able to make higher highs due to resistance and is making a pattern known as a rising wedge in a 15-minute timeframe and is about to fall to at least 16000.
