Indice NIFTY 50Long
Nifty Inv Head & Shoulder
After good correction phase which started in Dec21 Nifty is now showing very good strength.
A very good bullish indication is confirmed due to current week's breakout above 17900.
Inv head and shoulder is now in place and we can see nifty reaching 19000 in coming 3~5 months.
Nift below 17400 will negate this assumption hence.
Last shoulder is formed with support at 200DMA which makes this a high probability bullish pattern.
Will this result into next impulse wave as discussed in linked idea needs to be seen
A very good bullish indication is confirmed due to current week's breakout above 17900.
Inv head and shoulder is now in place and we can see nifty reaching 19000 in coming 3~5 months.
Nift below 17400 will negate this assumption hence.
Last shoulder is formed with support at 200DMA which makes this a high probability bullish pattern.
Will this result into next impulse wave as discussed in linked idea needs to be seen
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