1. NIFTY has been trading inside a Descending channel pattern creating lower highs and lower lows 2. Right now, it is at the resistance level(top of descending channel) 3. Day close above 18260 will pave way for the bulls 4. Safe SL can be Day candle closing out of the Descending channel 5. Target levels mentioned @ chart
6. In hourly time frame,Head & Shoulders pattern is evolving(right shoulder in formation) 7. Better to enter after the H&S BREAKDOWN!!!(BELOW THE BLUE TREND LINE)(ATTACHED BELOW)
8. In addition to the above stated , BEARISH HARAMI(JAN 18 AND 19 DAY CANDLES COMBINED) adds more to the PROBABLITY OF DOWBN MOVE!!!!!
Bank Nifty too travelling in a similar descending pattern (shown below)
Let's wait & watch how it moves!!!!
Commentaire
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Tmrw candle can be the decider!!!
Transaction en cours
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What a move!!! H&S target achieved !!! Respecting the Channel in Daily timeframe!!!