Nifty bank continues to languish. Markets consolidate.
The speed in which the markets fell and creeping, is akin to the shouldering of bears driving. Fraught with speed and fear.
There is increasing probability this can open up as Inv Head and Shoulder pattern.
1. The fall is short of 50% and from there the rise is unfolding.
2. The fall ended near to the end of wave 1 of the new wave that started at the base of Head.
3. The price action is held by the 233 DMA
4. The directional index is not showing or displaying any move either direction, helping for move consolidation.
5. Last but not the least 43200 acing as clear support
6. Close above 43900 bring confidence and pave the way for higher and break of the neckline.
Remain cautious longs held by the 43400-500 support.
The speed in which the markets fell and creeping, is akin to the shouldering of bears driving. Fraught with speed and fear.
There is increasing probability this can open up as Inv Head and Shoulder pattern.
1. The fall is short of 50% and from there the rise is unfolding.
2. The fall ended near to the end of wave 1 of the new wave that started at the base of Head.
3. The price action is held by the 233 DMA
4. The directional index is not showing or displaying any move either direction, helping for move consolidation.
5. Last but not the least 43200 acing as clear support
6. Close above 43900 bring confidence and pave the way for higher and break of the neckline.
Remain cautious longs held by the 43400-500 support.
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