HEAD & SHOULDERS PATTERN IN NIFTY. TIME TO SELL AGAIN ?

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Symbol - NIFTY50

CMP 24800

Nifty50 has turned its trend from bullish to bearish & sideways making lows - lows on daily time frame. We can see a Head & Shoulders pattern getting formed on daily TF in Nifty. Such patterns on larger time frame don't usually fail. Nifty is currently trading near neckline of this pattern. Breakdown & sustaining below this neckline zone 24730 - 24690 will get this pattern activated & we can see big target towards downside.

Target on downside can be 23370

P.S. : My short position is already active from 25000





Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
Giao dịch đang hoạt động
CMP 24580

H&S shoulders pattern is activated & Nifty is witnessing huge selling on neckline breakdown. I'm holding my short positions for huge downside targets.
Giao dịch đang hoạt động
CMP 24850

Adding more short position. My short position was active from 25K. Now adding more to this.
Holding with SL 25120
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CMP 24700

Nifty retesting breakdown area & witnessing sharp selling.
Short position Holding.
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CMP 24564

Future short position 436 points in profit. Holding short position.
Holding with CTC SL now.
Giao dịch đang hoạt động
CMP 24275

Future position 725 points in profit. Holding short position.
Giao dịch đang hoạt động
CMP 24200

Moving as per expectation. After good profit booking, trading sideways & getting ready for further downside. Holding short position.
Giao dịch đang hoạt động
CMP 24060

Future short position 940 points in profit.
Giao dịch được đóng thủ công
It went till 23816 & then started to reverse.

Trade closed at 23960 with Trailing SL.
Total 1040 points captured.

P.S. : I will make short positions again on rise towards 24500 with small SL. H&S target is still pending.
Ghi chú
CMP 23700
Ghi chú
CMP 23360

H&S Target 23370 reached.
25000 to 23360
Fundamental AnalysisfuturestradingHead and ShouldersniftylevelsniftyoutlookniftypredictionniftytradesetupniftytrendniftytrendanalysisshorttradesetupTrend Analysis

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