NIFTY - Inverted Head & Shoulder is making...
the said Target of 6950-6800 met not one time but two times in Feb 2016 and after that 1166 points rally happened and time being topped out at 7992 in April 2016 ( that was the previous support 8000-7950, now it became resistance) and now correction is going on
Now what next ?
See the below chart with our marking
Inverted Head & Shoulder is making....
Already full neckline formed around 8000
Right Shoulder completed around 7500
Head completed around 6800
Now once it comes around 7600--7500 then the Left shoulder going to be complete
after that, can expect , going to retest the neckline of around 8000
after making small correction of 100 to 200 points
Breakout going to happen above 8000 decisively
then the real cream of 1000-1200 point rally going to happen
target of 9000--9200.
All these process going to happen another 6 to 12 months time frame.
Above is my understanding ,
so for, how Nifty behaved and
how it will going to behave (pan out).
Let us see ,
what will going to happen in coming months...