In Continuation to my last post on Nifty yesterday, i.e. 7th Nov 2024, we can clearly see the weakness in Nifty that is prevalent.
A Head & Shoulders pattern is developing on the 4H chart.
Clearly, the buyers aren't able to sustain momentum and this typically is a sign of overvaluation.
While there may be sharp rallies to the upside, these will most likely get sold into.
I have marked the levels on the chart. My Targets are mentioned in the earlier post.
Short Target-1 on Swing basis - 23,550.
Further this might also break and try for a retest and we could finally come down to 23,375 - 23,400 levels.
Stay tuned and trade responsibly!
A Head & Shoulders pattern is developing on the 4H chart.
Clearly, the buyers aren't able to sustain momentum and this typically is a sign of overvaluation.
While there may be sharp rallies to the upside, these will most likely get sold into.
I have marked the levels on the chart. My Targets are mentioned in the earlier post.
Short Target-1 on Swing basis - 23,550.
Further this might also break and try for a retest and we could finally come down to 23,375 - 23,400 levels.
Stay tuned and trade responsibly!
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。