NIFTY : Head & Shoulder Pattern in making

٢٢ يناير ٢٠٢٤

Nifty is in process of making Head & Shoulder Pattern

If nifty Break Down Below 21400 then it may touch below levels
Level 1 20500
Level 2 20100

All above assumptions goes wrong If Nifty goes above 21950

Nifty is showing Divergence so it means very likely it may touch aforesaid levels

٢٣ يناير ٢٠٢٤

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For educational purpose
A head and shoulders pattern has four components:

After long bullish trends, the price rises to a peak and subsequently declines to form a trough.
The price rises again to form a second high substantially above the initial peak and declines again.
The price rises a third time, but only to the first peak level, before declining again.
The neckline, drawn at the two troughs or peaks (inverse)