BANKNIFTY--Inverse Head and Shoulders Pattern??
Updated
If tomorrow price unable to breaks 43200 levels...results in a formation of Head, so tomorrow momentum is important for us to go bullish or bearish in Bank nifty
so wait for the price to comes back to the neckline and gives us some pullback to Right shoulder then will go for long again in Bank nifty ….until keep in watch mode...
bottom side we have a bullish gap left at 42900 levels. If opens down we have a chance of rise from that levels...
so wait for the price to comes back to the neckline and gives us some pullback to Right shoulder then will go for long again in Bank nifty ….until keep in watch mode...
bottom side we have a bullish gap left at 42900 levels. If opens down we have a chance of rise from that levels...
Note
wait for long side..it might be trap on long...Note
multiple rejections from trendline...Note
It created one more trendline...if again want to go long wait for the break of trendline and retest...Note
Broken strongly...it has to continue...if its bullish...Note
If no continuation will go for short...Note
Keep safe...strong moves may happens...Note
don't carry any positions ...both sides possible...Note
today mostly volatile....Note
liquidity lies on bothsides....above 43650 and below 43500...so be safe...Note
topside indicating 2 targets 4360and 43740 zones...as trading in channel.Note
exit guys....Note
don't go for short side immediately...Note
Now price is near to neckline....which is strong...if that pushes the price, then will look for buy at Right shoulder...Note
There is a chance of fall back up to 43100 levels....if right shoulder fails to push the price upside....
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