NIFTY-- 20500 or 18500 ??

Price created a strong bottom at 19300 level...
multiple times the price is taken the support from 19300 level.
This level is crucial for Nifty to sustain above 20K.
if price again creates a strong bullishness from this zone this will break the 20k zone and Reaches 20500 level easily.

the zone @19300 level is the price gives us discount, to enter long for 20500 level.
After a strong break from previous strong resistance @18900 levels,
this fall is a discounted price, those who wants to ride the trend will go for long side..

so, when to enter in long side....
from which place we have to be on the buy side....
look at these analysis... you will get a clear picture

An inverse head and shoulders pattern may form to take the price to reach 20500 levels.
so keep watch this levels by keeping an alerts.

If this fall continue It may reach 18900 and 18600, before reaching this it has to give some retracement.
will see what happens.

Thank you guys for your support and Encouragement.

Comment:

Nifty is working as expected....
price broken the neckline and retested the neckline and closing is given above the neckline.

Look at the bottom side gap is still left,
if price wants to fill the gap it opens gapdown and fill the gap and moves up again.

If neckline pushes the price again up,
will be long on break of the zone above neckline. keeping the stop loss below neckline.

If opens gap up above, the zone after filling the gap will initiate a long entry.
keep track the neckline and bullish gap.

Comment:

Comment:

it is an inside...head and shoulder pattern of larger one...like banknifty.