NIFTY
is forming or has formed H&S bottom on weekly chart. Price is looking good to stay long in this market and on the upside. Intermittent whips may come on the downside for intraday moves till 18128 but only if the following levels are breached - 18583, 18385 & 18297. Positionally the trend is up itself.
If the green weekly trend line is breached at 17800, that is when we can re-evaluate the trend and see how much downside this index has opened up for.
Disclaimer -
- The view expressed here are my personal views. I am publishing this for my own records and what I see on charts.
- If you're referring to this, please consider this ONLY FOR educational & research purposes.
- Past performance is not a guarantee for future predictions
- Any decision you take, you need to take responsibility for the same. DO NOT consider this as an investment suggestion.
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- Do your own analysis and consult your financial advisor before investing.
TIA!