the multiple patterns, if they turn out to be true, suggest NIFTY heading towards downward spiral, probably upto 15800-16000 level.
Some more correction in NIFTY will bring it back into the downtrend channel from which it had broken out in past weeks. The H&S
pattern is witnessing minor pullback and drop which if continues is suggesting correction of apprx 1200 points. There is nothing positive
suggested by the triangle pattern.
Some more correction in NIFTY will bring it back into the downtrend channel from which it had broken out in past weeks. The H&S
pattern is witnessing minor pullback and drop which if continues is suggesting correction of apprx 1200 points. There is nothing positive
suggested by the triangle pattern.
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Nifty touched the low of 16203 and reversed, however overall its still in downtrend and required continuation of H&S pattern is almost achieved, but short of 400pts.
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