spot-nifty

11500 or 11000 below? last Resistance is for NIFTY

spot-nifty

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…

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updated after opened market.

here profit booking can start on NF, between 11287-11308

Active PUT 11200 march, buyers expected 18-22.