BANKNIFTY--Head Shoulders pattern??

7. Feb. 2024

BANKNIFTY index is now taking the support form inverse right shoulder...
now we have a chance of head and shoulders pattern as well ...
keep safe before long....immediate resistance lies at 46200.
wait until price breaks the neckline and retest...then will go for shortside...

7. Feb. 2024

Anmerkung

Breaks above the right shoulder and sustain then only long continuation up to 47200 levels.

7. Feb. 2024

Anmerkung

Price is at important zone of support... Might strong reversal may happens... Keep safe here

7. Feb. 2024

Anmerkung

After bullish gap price gives us retracement....safe here

7. Feb. 2024

Anmerkung

price exactly at neckline and retest of trendline...

7. Feb. 2024

Anmerkung

enter long on break and retest...

7. Feb. 2024

Anmerkung

or wait for the neckline to break and retest and will enter short...

8. Feb. 2024

Anmerkung

If price breaks the right shoulder then we have chance of continuation to 46600 levels.

8. Feb. 2024

Anmerkung

Book profits From now enters in resistance Zone

8. Feb. 2024

Anmerkung

Noshortside... It may breaks 46400 levels

8. Feb. 2024

Anmerkung

This is the place again changes its direction

8. Feb. 2024

Anmerkung

price is now in demand zone....if price consolidation again on topside price will reach 46400 levels.

8. Feb. 2024

Anmerkung

8. Feb. 2024

Anmerkung

enter long again in this zone.