Market has created a simple cup and handle (CH) pattern, with bottom support at 22,200 and resistance at 23,200. After breaking that resistance, market shot upto the next resistance which will form a reverse head and shoulder (RHS) pattern.
If market tests 23,200 as support, it'll create the second shoulder for the RHS pattern. It will also validate the CH pattern, and the ranges for both pattern will be locked in. 24,200 for the CH, and beyond 25,000 for RHS.
Basically if Nifty drops to 23,000, it can be considered a good accumulation zone.
If market tests 23,200 as support, it'll create the second shoulder for the RHS pattern. It will also validate the CH pattern, and the ranges for both pattern will be locked in. 24,200 for the CH, and beyond 25,000 for RHS.
Basically if Nifty drops to 23,000, it can be considered a good accumulation zone.
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Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.