Sunday, February 21, 2010

Inverse Head-and-shoulders under formation, neckline is packed at 4930


On w-o-w basis, Nifty closed with gain of 20 odd points, thus managing to hold on to its week positive streak. Currently, Nifty is forming an inverse Head-and-shoulders pattern, whose neckline is packed at 4930. On the breach of the neckline Nifty can rally up to 5000-5050 levels. However, if the low of 4675 got violated then the pattern will get negate and extensions on downside will continue.

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1 comment:

yashkaushab said...

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Safe Harbor:

The information contained and provided on this Website provides Investment advice for the education of investors. The posts are an information service only. Recommendations, opinions or suggestions are given with the understanding that readers acting on this information assume all risks involved. We do not assume any responsibility or liability resulting from the use of such information, judgment and opinions for Trading or Investment purposes.
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