Nifty is forming an inverted head-and-shoulders pattern

By | November 10, 2008

Nifty is forming an inverted head-and-shoulders pattern, whose neckline is placed at 3,241 and an upside breakout of this
neckline will take Nifty to 3,650 in the near future. Further,the close of Nifty above the 20-day simple moving averages is adding to this bullish scenario until Nifty holds the support of the moving average.

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