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
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5 Replies to “Bank Nifty Probable Head and Shoulder Pattern”
200 points down trail sl
hi sumit thanks for this market tips i really like this tips for my investment and trade.
You are most welcome 🙂
Please book all 🙂
Very good chart reading.Congrats.