Following patterns are found for data of 2015 to 2019 (5 years data) on weekly candle chart.
- Channel pattern
- Flag Patterns
- Currently running Head and Shoulders pattern
- Remarkable zone 1, 2 and 3
Head & Shoulders pattern is still uncompleted with right shoulder. The neckline target is 10063
At the remarkable zone, its has highly price rotation detected with tails
As per channel pattern, the range is 12600 to 10900. The gravitating target 12000 for nifty.
Conclusion, break 10900 below nifty can draw more downward.