BANKNIFTY INVERTED HEAD & SHOULDERS PATTERN
BankNifty has been forming head & shoulders pattern in hourly timeframe and it completed the formation of the current pattern and its on verge of the breakout above its neckline
What if it breakouts above the neckline -
We can go long by buying call option, shorting puts and longing future and can target for 44k intraday and more if have potential to carry position
For a normal inverted head & shoulders pattern, the target usually is same as the size of the head formed....and the head formed in this pattern is around 1900 points so maybe we can potentially hit 45K mark for banknifty index
Disclaimer : This post is just for educational purpose.
What if it breakouts above the neckline -
We can go long by buying call option, shorting puts and longing future and can target for 44k intraday and more if have potential to carry position
For a normal inverted head & shoulders pattern, the target usually is same as the size of the head formed....and the head formed in this pattern is around 1900 points so maybe we can potentially hit 45K mark for banknifty index
Disclaimer : This post is just for educational purpose.
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