Today, Nifty made strong bullish candle but, its having final and strong trend line resistance.
- Trendline Resistance 12000-50
- H & S pattern,
Generally Head & Shoulder pattern has 2% penetration normally.
LEFT Shoulder is at 11176 and,
HEAD at 11760
Calculated 223 points is 2% Penetration of LEFT SHOULDER. 11176 + 223 = 11400
For the H & S pattern, 11400 may be a maximum value of RIGHT should with penetration of 2%.
I will update here tomorrow exact trade…
updated after opened market.
here profit booking can start on NF, between 11287-11308
Active PUT 11200 march, buyers expected 18-22.