Presently one could see mirror image of head and shoulder pattern formed in aug-sep last year, but the million dollar question is whether break of neckline of this head and shoulder will lead to steep fall as seen last year.
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Hi..Renu,
ReplyDeleteI was to put a chart with mirror image of different angle. Yours show a possible steep fall.
However, if you put a deep vertical line in the middle of the chart showing Jan 2008 till date, then you will see the rise from 2539 to 4693 is a mirror image of the last year's fall. Going by that, if we fall upto 3900, that will make a huge inverse H&S pattern for a big bull move past 4693 towards 5000+.
Best regards.
ilango