Sumit I am trading in Indian equity market since 2008 also CMT level 1 certified. I upload all my studies regularly on Price and Volume & Facebook Page . You can follow the blog by registering your mail address in the blog.

Bank Nifty Probable Head and Shoulder Pattern

35 sec read

Bank Nifty(Hourly)20130221112337

 
 

 

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

DISCLAIMER:

All the views and contents mentioned in this blog are merely for educational purposes and are not recommendations or tips offered to any person(s) with respect to the purchase or sale of the stocks / futures. I do not accept any liability/loss accruing from the use of any content from this blog. All readers of this blog must rely on their own discretion and neither any analyst nor any publisher shall be responsible for the outcome.

 

Sumit I am trading in Indian equity market since 2008 also CMT level 1 certified. I upload all my studies regularly on Price and Volume & Facebook Page . You can follow the blog by registering your mail address in the blog.

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