Head and Shoulder in Bank NIFTY!
This is analysis is for educational purpose only!
Since many weeks bank nifty is under performing in the market and today it has created Head and Shoulder Trend Reversal Pattern on its daily charts. By the huge structure of this head and shoulder we can expect a huge fall of 5900 points. Yes! 5900 POINTS. If Bank Nifty treads below 35300 you can initiate a sell position in Bank nifty. My target is around 29000 - 30000. Closing above 36150 on Monday (or any other day next week) will make this pattern invalid.
Since many weeks bank nifty is under performing in the market and today it has created Head and Shoulder Trend Reversal Pattern on its daily charts. By the huge structure of this head and shoulder we can expect a huge fall of 5900 points. Yes! 5900 POINTS. If Bank Nifty treads below 35300 you can initiate a sell position in Bank nifty. My target is around 29000 - 30000. Closing above 36150 on Monday (or any other day next week) will make this pattern invalid.
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