Nifty has formed a Head and shoulder pattern and broken below 10350 with above average volumes. We can see further drop in nifty with a target of 9580 in next couple of months. A stop loss can be place at the top of the head and shoulder pattern at 11172. 

2 Comments
  1. Author
    Mitesh Thakkar 6 years ago

    In addition to the above views, it happens so that 9508 also happens to coincide with Fibonacci Retracement levels of 0.5.

  2. vignesh 6 years ago

    Hi sir,
    It is not head and shoulder pattern, finding patterns in indices is little complex.

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