NIFTY UPCOMING JOURNEY PREDICTION 20-07-22
DRAWINGS IN THE CHART
Showing NIFTY CURRENT PICTURE, the Head and Shoulder Pattern.
NIFTY BIG PICTURE drawing is not shown, but dates are mentioned, so you can visualise or draw on your charts as per the dates and levels mentioned.
NIFTY BIG PICTURE
Since 05.05.2022, Nifty is in the process of forming Inverted Head and Shoulder pattern in the hourly chart.
From 05.05.2022 to 03-06-2022, formation of Left Shoulder with its peak placed at 15750.
Its Neckline has been placed at 16800. This level has acted as a support for Nifty in the past.
The current uptrend in Nifty (from 17.06.2022) may push it to 16800, which will complete the Head of the pattern, its Head being placed at 15200.
NIFTY CURRENT PICTURE
Again, price action suggests that Nifty might be in the process of making a Head & Shoulder pattern from 20.07.2022. Currently it is forming the Left Shoulder with its peak placed at 16588.
Its Neckline might be at 16400. This level has acted as a crucial support for Nifty in the past, thus this level being a natural choice for the Neckline.
After touching 16400(Neckline), Nifty might continue its upward journey upto 16800. This will form the peak of the Head of the pattern, and complete the Head of Inverted H&S pattern.
Again, keeping the big picture of Nifty in mind(i.e. Inverted Head & Shoulder pattern), after touching 16800, Nifty may retrace back to the levels of 15900 to 16000. There is a high possibility that the price of Nifty might reverse from here. This level may indicate the peak of the Right Shoulder, again, if and only if, the big picture of Nifty is bullish. If not, then price might go down from here. N.B: 15750 will act as the last defence for the upward journey of Nifty if it breaks 15900, failing which the larger trend of Nifty will become bearish.
In either case, Nifty might go down from 16800.
Investment Strategy
Long: 16400-16800
Short: 16800-16000
Option type: Monthly Option Call & Put.
Happy Trading.
We are not responsible for any profit or loss
Based on Your Own Risk this is only to Show you the Current Pattern
Showing NIFTY CURRENT PICTURE, the Head and Shoulder Pattern.
NIFTY BIG PICTURE drawing is not shown, but dates are mentioned, so you can visualise or draw on your charts as per the dates and levels mentioned.
NIFTY BIG PICTURE
Since 05.05.2022, Nifty is in the process of forming Inverted Head and Shoulder pattern in the hourly chart.
From 05.05.2022 to 03-06-2022, formation of Left Shoulder with its peak placed at 15750.
Its Neckline has been placed at 16800. This level has acted as a support for Nifty in the past.
The current uptrend in Nifty (from 17.06.2022) may push it to 16800, which will complete the Head of the pattern, its Head being placed at 15200.
NIFTY CURRENT PICTURE
Again, price action suggests that Nifty might be in the process of making a Head & Shoulder pattern from 20.07.2022. Currently it is forming the Left Shoulder with its peak placed at 16588.
Its Neckline might be at 16400. This level has acted as a crucial support for Nifty in the past, thus this level being a natural choice for the Neckline.
After touching 16400(Neckline), Nifty might continue its upward journey upto 16800. This will form the peak of the Head of the pattern, and complete the Head of Inverted H&S pattern.
Again, keeping the big picture of Nifty in mind(i.e. Inverted Head & Shoulder pattern), after touching 16800, Nifty may retrace back to the levels of 15900 to 16000. There is a high possibility that the price of Nifty might reverse from here. This level may indicate the peak of the Right Shoulder, again, if and only if, the big picture of Nifty is bullish. If not, then price might go down from here. N.B: 15750 will act as the last defence for the upward journey of Nifty if it breaks 15900, failing which the larger trend of Nifty will become bearish.
In either case, Nifty might go down from 16800.
Investment Strategy
Long: 16400-16800
Short: 16800-16000
Option type: Monthly Option Call & Put.
Happy Trading.
We are not responsible for any profit or loss
Based on Your Own Risk this is only to Show you the Current Pattern
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