BEARISH VIEW : Most reliable trend reversal pattern (Head & Shoulder Pattern) is formed in Nifty Spot and it has tested pattern's breached neckline. Now if it breaks 4004 level then Nifty will try to complete the first Technical target of 3730 and in any case if it does not hold this level for 2-3 days then again it will slide to 3200 level. For this strategy short position can be carried with the stop loss of 4485 spot and trail it with down trend. BULLISH VIEW : In any case the high of shoulder 4485 breakse then change your short positions into long because when this pattern fails then it goes upside very very fast and it will try to achieve 5400 level with a lightening speed.
So careful about this pattern.
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