In a post earlier I have mentioned about a probable head and shoulder pattern developing in bank nifty. A similar pattern is forming in NIFTY chart.
Bank nifty has strong support (neckline) at 12240. Bank nifty has stiff resistance zone in 12480-12530 (Right Shoulder area) zone… A high volume break if 12240 will be very bearish for BANK NIFTY and it will target 11650.
I will update comment section when I see this probable pattern is going to fail
Author – Pattern Trading