Nifty Bank IndexShort
Is Bank Nifty forming Head and Shoulder Top?
Bank Nifty appears to be forming the Right Shoulder of the Head and Shoulder Pattern with neck line around 49,000 - 50,000 zone.
The text book target of this pattern comes to ~ 44,500 - 45,000, which is ~9,000 points decline from todays closing price. This area is just above the 45,500 - 46,000 zone that has acted first as resistance in July-September 2023, and then as support in March - June 2024
The text book target of this pattern comes to ~ 44,500 - 45,000, which is ~9,000 points decline from todays closing price. This area is just above the 45,500 - 46,000 zone that has acted first as resistance in July-September 2023, and then as support in March - June 2024
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