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Nifty Bank Index

BANKNIFTY--Head Shoulders pattern??

Oleh IIT-Trader
Diupdate
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...
Catatan
Breaks above the right shoulder and sustain then only long continuation up to 47200 levels.
Catatan
Price is at important zone of support... Might strong reversal may happens... Keep safe here
Catatan
After bullish gap price gives us retracement....safe here
Catatan
price exactly at neckline and retest of trendline...
cuplikan
Catatan
enter long on break and retest...
cuplikan
Catatan
or wait for the neckline to break and retest and will enter short...
Catatan
If price breaks the right shoulder then we have chance of continuation to 46600 levels.
cuplikan
Catatan
Book profits From now enters in resistance Zone
Catatan
Noshortside... It may breaks 46400 levels
Catatan
This is the place again changes its direction
Catatan
price is now in demand zone....if price consolidation again on topside price will reach 46400 levels.
Catatan
cuplikan
Catatan
enter long again in this zone.
cuplikan
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