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vanathi
Feb 7, 2021 1:29 PM

Mighty Nifty - Weekly Review Feb 8 - Feb 12 

S&P CNX NIFTY INDEX FUTURES (FEB 2021)NSE

Description

Sustaining 14980 - 15020 will make the price to move towards 15060, 15090, 15140, 15180 and 15220. Bearish below 14960 for the targets 14920, 14860, 14820 and 14760.

Trade active

Long

Comment

Target 3 done.

Trade closed: target reached

All targets done.
Comments
invest_shares
Mam, It looks Nifty might be making a Inverse Head and Shoulder with resistance line as Neckline. Do you think so? if yes, what will be the invalidation point and confirmation point?
vanathi
@invest_shares, Yes it has formed inverse head & shoulder. Head has formed based on news rally. Break out dont have news for a big rally. So cant say much about invalidation point & confirmation point.
invest_shares
@vanathi, Thanks for the response mam. Can we consider today's move as breakout?
vanathi
@invest_shares, Yes, till the price sustains 15k
SPrasadRao
Good analysis...!
vanathi
@SPrasadRao, Thank you.
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