BANKNIFTY--Head Shoulders pattern??

Zaktualizowano

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...

Uwaga

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

Uwaga

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

Uwaga

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

Uwaga

price exactly at neckline and retest of trendline...

Uwaga

enter long on break and retest...

Uwaga

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

Uwaga

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

Uwaga

Book profits From now enters in resistance Zone

Uwaga

Noshortside... It may breaks 46400 levels

Uwaga

This is the place again changes its direction

Uwaga

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

Uwaga

enter long again in this zone.

IIT-Trader

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