support tested in history acted as resistance
support tested in history acted as stiff resistance
a bookish cup and handle formed on bank nifty. handle retraces between 62%-50%. confirmation above 3% of 21967 i.e 22626
a bookish cup and handle formed on bank nifty. handle retraces between 62%-50%. confirmation above 3% of 21967 i.e. 22626
on daily basis clean formation of inverse head and shoulder.
formation feb 2016 to may 2017. target achieved in october 2017
nifty weekly inverse head and shoulder formed breakout in august 2009 and and target achieve in november 2015. target height of head 4649-2921 = 1728. therefore target 6377 achieved in nov 2015
a perfect head and shoulder formed before fall of 2008 giving indication market topped out. here target of head and shoulder is said to be height of head 6357-4100 i.e. we expect fall of 35% but index fall about 45% and so target achieved. for better results of pattern try to find out pattern on long term time frame. here we have used Weekly time frame.