The Nifty 50 Price Index has already formed the Left Shoulder and the Head completely. Now to confirm this patter just wait for the price to form and complete the Right Shoulder as well. If this pattern fully completes, then there will be a huge sell off in the market and the 9000 price mark might be tested thereafter. The price did also break the Trendline and retested it. In the alternate scenario if the price starts shooting up and does not completes the Right Shoulder then this pattern will be considered Invalid.
All my views are just technical analysis , no fundamental or sentimental analysis are taken into consideration. Happy Trading ;)
Hi,what you expect after today's closing 10570 NIFTY,going downtrend?if yes what timeframe we can expect fall to 9800,in may expiry?
iam_jaisonjose
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@PratheeshCheriyan, This Setup Could not be considered a valid one if Nifty Crosses the 11000 Mark.
PratheeshCheriyan
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?
now market tested 10900 and a fall to 10800..nw what ?
iam_jaisonjose
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@PratheeshCheriyan, Wait for the Price Action to decide the Market Structure. If this setup gets validated then there will be a huge sell off in the Market. This could be a potential Buy Opportunity for the newcomers.