BANKNIFTY (INVERSE HEAD AND SHOULDER PATTERN ??!! )

Nifty Bank Index (NSE:BANKNIFTY)

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NSE:BANKNIFTY Nifty Bank Index

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I am not very bullish but I am analyzing what I am seeing. If this pattern breaks and the corona vaccine results are successful, there can be a 1000 point rally again.

However, if there is a breakout failure, it can come down faster than you can think of.

As per tomorrow, the breakout is possible, but I am 50-50 on it and mostly think the market would be sideways and we can see breakout during monthly expiry.

Komentarz:

So it was a case of breakout failure and I hope you understand why did the market come down? Can anybody comment and tell me the reason behind my logic. :)

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