H & S Breakout in Nifty, Feels like Euphoria Phase of Bull-run.
Head and Shoulder like Pattern in formed in Nifty. Currently Nifty looks like overbought. RSI is also above 80 and it feels like Euphoria Phase of Bull-run is activated. For how long the continuous bull run can persist is difficult to say as market can remain irrational more than investors can remain rational. To have a sustainable growth a little bit of correction or consolidation would be good but you never know. Bull-run is called a Bull-Run for a reason. Major fibonacci resistance for Nifty is near 20920. Supports for Nifty are near 20695, 20518, 20222 and 19736.
Happy Candles Investment
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