Indice NIFTY 50Short
NIFTY CRASH INCOMING??
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The Nifty 50 chart displays a classic head and shoulders breakdown, signaling a potential reversal of the prior bullish trend. The breakdown occurred as the price decisively breached the neckline around the 24,590 level, which coincides with the 70% Fibonacci retracement.
This breakdown suggests a potential bearish move, with the price targeting key Fibonacci support levels, particularly the 78.20% (24,399.50) and 88.20% (24,168.35) retracement levels. The bearish sentiment is reinforced by the high-volume sell-off after the neckline breach, indicating strong selling pressure.
However, if the price retraces back above the 61.80% Fibonacci retracement level (24,783.40), it could invalidate the bearish setup, signaling that the pattern may have failed. The 25,063.35 level (50% retracement) would act as the next major resistance if the bounce continues.
The measured move from the head-and-shoulders pattern projects further downside, potentially aligning with the 23,980 level or even lower, depending on market momentum. Traders should watch these key levels for confirmation of continued downside or a reversal if the price reclaims the neckline.
This breakdown suggests a potential bearish move, with the price targeting key Fibonacci support levels, particularly the 78.20% (24,399.50) and 88.20% (24,168.35) retracement levels. The bearish sentiment is reinforced by the high-volume sell-off after the neckline breach, indicating strong selling pressure.
However, if the price retraces back above the 61.80% Fibonacci retracement level (24,783.40), it could invalidate the bearish setup, signaling that the pattern may have failed. The 25,063.35 level (50% retracement) would act as the next major resistance if the bounce continues.
The measured move from the head-and-shoulders pattern projects further downside, potentially aligning with the 23,980 level or even lower, depending on market momentum. Traders should watch these key levels for confirmation of continued downside or a reversal if the price reclaims the neckline.
Trade fermée: cible de profit atteinte
24,168.35 is done today!
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