NIFTY Head & Shoulder or Cuo & Handle?
Option 1 (RED Drawing):
Right Shoulder of a HNS pattern is forming.
Right Shoulder PRZ 178XX-183XX.
Short on signs of weakness.
STOP & Reverse sustaining above 18300.
Target 15K low. STOP and Recerse target around 19000 (see Option 2)
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Option 2 (WHITE Drawing):
Handle of a CNH pattern is forming
Handle Target around 19000, wherever the white trend line hits.
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As CNH is both reversal and continuation pattern:
On breakout above CNH, target 23000.
On failure to break out, target back to 15000.
Right Shoulder of a HNS pattern is forming.
Right Shoulder PRZ 178XX-183XX.
Short on signs of weakness.
STOP & Reverse sustaining above 18300.
Target 15K low. STOP and Recerse target around 19000 (see Option 2)
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Option 2 (WHITE Drawing):
Handle of a CNH pattern is forming
Handle Target around 19000, wherever the white trend line hits.
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As CNH is both reversal and continuation pattern:
On breakout above CNH, target 23000.
On failure to break out, target back to 15000.
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