These are Nifty Futures Gann Levels, Could be used to trade intraday on basis of support and resistance. Any thing between 2 purple lines is side ways movement.
H&S - it seems right shoulder is in formation means we can see a big downward movement and Breaking of support. It may rise from support though for complex H&S pattern. Keep an eye as the pattern is still not complete, but trend line resistance is obeyed.