Bank NIfty Analysis "Triple Top" n "InvertedHNS"
Bank Nifty Analysis for 8th Aug 2022
In the above chart of Bank Nifty we can see that triple top has been formed at the top level .The “tops” are peaks that are formed when the price hits a certain level that can’t be broken(Resistance 38150).
Another hand that we can observe inverted head and shoulder pattern as well.
Now, the fun parts have begun, where does the bank nifty will go?
Probability 1 : Bank Nifty may retest the Support Level of 37720 or it may initiate the Right Shoulder Pattern as well and then it may change its structure to Higher High and Higher low as mentioned in the chart
Probability 2 : Bank Nifty may broke the Support Level of 37720 and then price of Bank Nifty may fall to 37250
Mine looking for Probability 2
Comment your ideas in the below comment section
In the above chart of Bank Nifty we can see that triple top has been formed at the top level .The “tops” are peaks that are formed when the price hits a certain level that can’t be broken(Resistance 38150).
Another hand that we can observe inverted head and shoulder pattern as well.
Now, the fun parts have begun, where does the bank nifty will go?
Probability 1 : Bank Nifty may retest the Support Level of 37720 or it may initiate the Right Shoulder Pattern as well and then it may change its structure to Higher High and Higher low as mentioned in the chart
Probability 2 : Bank Nifty may broke the Support Level of 37720 and then price of Bank Nifty may fall to 37250
Mine looking for Probability 2
Comment your ideas in the below comment section
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