The Index has formed an Inverted Head and Shoulder Pattern.

Inverted Head and Shoulder Pattern breakout is on the upside. Currently the Index is trading near the neckline; Index closing above the neckline would be an opportunity to enter long in the index. 100 point movement is expected after the breakout.

Currently the Index is trading above the EMA's indicating a short term positive movementem.RSI is supporting the move, a breakout from the neckline is seen indicating positive move.

Advice : Buy if the Index closes above the neckline in 1DAY  time frame

HEAD AND SHOULDER

Jul 31 2022