Head and Shoulder pattern has formed in Nifty index on 15mins chart. Targets and SL are calculated. If we close above Target 2, 22000 is on the cards!
PS: I am long already. So, consider the bias.
Nifty is nearing it very strong support zone of 18080, very good risk:reward ratio.
Buy it in calls/future or sell puts .
Could be bought here for strong bounce back with mentioned stoploss & targets.
Nifty can soon start it's up move. It'll break the black horizontal line and start going up. However, the count in the Bank Nifty is clearer, so an entry based on Bank Nifty would be a better idea. (The link for Bank Nifty is attached).
