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nifty making head and shouder pattern.

Discussion in 'Technical Analysis' started by amit_taneja1100, Aug 12, 2015.

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  1. amit_taneja1100

    amit_taneja1100 New Member

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    Nifty is clearly forming head and shoulder pattern and also a descending triangle pattern can be seen so can we expect more downside after breaking neckline.chart is attached for your reference.
     

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    amit_taneja1100, Aug 12, 2015
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  2. jignesh_acharya

    jignesh_acharya Active Member

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    Yes but neck is @8300
     
    jignesh_acharya, Aug 12, 2015
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  3. amit_taneja1100

    amit_taneja1100 New Member

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    what should be d tgt n why?
     
    amit_taneja1100, Aug 12, 2015
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  4. shabbir

    shabbir Administrator Staff Member

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    If 8300 is taken out, don't see anything before 7950
     
    shabbir, Aug 12, 2015
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  5. amit_taneja1100

    amit_taneja1100 New Member

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    :eek:hmy:
     
    amit_taneja1100, Aug 12, 2015
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  6. amit_taneja1100

    amit_taneja1100 New Member

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    7950 WS a major suppprt.wt shld we expect nw.More downside or a bounce back and wt could be support level nw.
     
    amit_taneja1100, Aug 24, 2015
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  7. shabbir

    shabbir Administrator Staff Member

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    Yes too much downside is on hopefully this time.
     
    shabbir, Aug 24, 2015
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