Nifty
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Short Entry activated in Nifty ✅
Nifty filled the gap & taking rejections from exactly previous day's closing levels
Higher timeframe is also in confluence
Plan your Stop Loss at Recent Logical Level.
#Nifty #BinanceSquareFamily @Binance Square Official #BTCSoarsTo68K
Nifty filled the gap & taking rejections from exactly previous day's closing levels
Higher timeframe is also in confluence
Plan your Stop Loss at Recent Logical Level.
#Nifty #BinanceSquareFamily @Binance Square Official #BTCSoarsTo68K
Nifty Island, a free-to-play social game, has expanded its in-game distribution of Legendary Palms NFTs, highlighting their importance in the Play-to-Airdrop campaign.
#Nifty #niftyisland #nft #gaming
#Nifty #niftyisland #nft #gaming
NIFTY50 Chart Analysis: Head & Shoulder Pattern in HTF Points to Possible Downside Move
NIFTY50 Chart Analysis: Head & Shoulder Pattern in HTF Points to Possible Downside Move
As of May 2, 2023, the ₹NIFTY is currently trading at ₹18150. However, a chart analysis of the higher time frame (HTF), particularly the 3-day and weekly charts, shows a head and shoulder (H&S) pattern forming, which could indicate a potential downside move soon.
Head & Shoulder Pattern:-
Left Shoulder and Head Already Formed The left shoulder has already formed, and the head has also formed, indicating a possible top. The chart analysis is now waiting for the formation of the right shoulder. If the right shoulder forms as expected, the ₹NIFTY will likely test the ₹17000 level again, which is the neck line support for the H&S pattern.
NECK LINE Support:-
Neck Line Support and Major Support Level The neck line support at ₹17000 is a crucial level to watch. If the ₹NIFTY breaks down this level, it could potentially see the ₹15000 level in the mid-term, which is a major support level in the higher time frame.
CryptoPatel Key Levels:-
Key Levels to Consider The support levels to watch out for are ₹17000 and ₹15000, while the resistance levels are ₹18250 and ₹18800.
Chart Pattern Invalidation:-
Invalidation of the H&S Pattern The H&S pattern will be invalidated if any higher time frame candle closes above ₹18250, indicating an inverse H&S pattern.
Conclusion:-
Conclusion and Takeaways Based on the chart analysis, there is a possibility of a downside move soon in the ₹NIFTY. However, it is crucial to do your own research before making any investment decisions. Keep an eye on the neck line support at ₹17000 and the major support level at ₹15000. It is also essential to pay attention to the resistance levels at ₹18250 and ₹18800. Always remember to trade wisely and never blindly follow any chart analysis or predictions.
Hey, it's CryptoPatel here!
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As of May 2, 2023, the ₹NIFTY is currently trading at ₹18150. However, a chart analysis of the higher time frame (HTF), particularly the 3-day and weekly charts, shows a head and shoulder (H&S) pattern forming, which could indicate a potential downside move soon.
Head & Shoulder Pattern:-
Left Shoulder and Head Already Formed The left shoulder has already formed, and the head has also formed, indicating a possible top. The chart analysis is now waiting for the formation of the right shoulder. If the right shoulder forms as expected, the ₹NIFTY will likely test the ₹17000 level again, which is the neck line support for the H&S pattern.
NECK LINE Support:-
Neck Line Support and Major Support Level The neck line support at ₹17000 is a crucial level to watch. If the ₹NIFTY breaks down this level, it could potentially see the ₹15000 level in the mid-term, which is a major support level in the higher time frame.
CryptoPatel Key Levels:-
Key Levels to Consider The support levels to watch out for are ₹17000 and ₹15000, while the resistance levels are ₹18250 and ₹18800.
Chart Pattern Invalidation:-
Invalidation of the H&S Pattern The H&S pattern will be invalidated if any higher time frame candle closes above ₹18250, indicating an inverse H&S pattern.
Conclusion:-
Conclusion and Takeaways Based on the chart analysis, there is a possibility of a downside move soon in the ₹NIFTY. However, it is crucial to do your own research before making any investment decisions. Keep an eye on the neck line support at ₹17000 and the major support level at ₹15000. It is also essential to pay attention to the resistance levels at ₹18250 and ₹18800. Always remember to trade wisely and never blindly follow any chart analysis or predictions.
Hey, it's CryptoPatel here!
I'm passionate about providing you with the latest insights and analysis on the world of cryptocurrencies.
If you enjoy my content and want to show your support, please like, share, and follow me for more high-quality updates.
Thank you for your support, and let's continue to stay connected for more exciting content!
LIKE ❤️
Share ⏩
Follow 🤝
#eth2.0 #Binance #BTC #Nifty #askbinancesensei
