Example of Head and shoulder, Support become resistance

5 giorni fa

INDEX: Nifty
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PATTERN 1 : Head and Shoulder(Bearish) and Inverse Head and Shoulder(Bullish)
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PATTERN 2 : Support become Resistance
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PATTERN 1 : Marked in chart (Its not always perfect but its nicely visible)
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PATTERN 2 :Nifty was at support of 24800 was above that level or bouncing from same level 3 times and finely broke down that 24800 in Oct 24 and gave good move below that level, now 24800 acting as a resistance.
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NOTE: Support and resistance both can be break, always check which side you are that is imp.
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For Learning Purposes only