NIFTY 25 MAY 2021 : Reverse H&S pattern is under confirmation. Can it challenge for New alltime high?

Yesterday's session was quite impressive although it has slipped from top. Well, whenever market goes near all time high, mostly it goes with divergence and its the same divergence which used to cause intraday dip.

Another important point is this kind of moves cause lots of gap opening. Hence, this is for lion hearted traders.

Any dip near 15100 to 15000 can be opportunity to trade long.

Shorting???

One can get some intraday swing of 50-60 points but there is no point to short as swing traders. remember, momentum indicators will definitely show divergence but that is not the sign for shorting. One may observe such divergence mostly on hourly chart but ignore those.

NOTE - unless market breaks trend line support, there is no point to go for positional short.

Caution is always advised in such kind of days.

I’m Praveen Kumar, a seasoned Technical Analyst and stock market trader with over 25 years of experience in the Indian equity and derivatives markets. My passion for numbers and patterns led me to a dual career as a Mathematics Teacher and market technician. I specialize in Technical Analysis, with deep expertise in Elliott Wave Theory, derivatives strategies, and market forecasting. Over the years, my analysis and market views have been featured on NDTV Profit as a financial guest, along with published articles on reputed financial web portals, sharing insights on Nifty 50, Bank Nifty, and stock market trends. As a trader and analyst, I focus on interpreting price action, chart patterns, wave counts, and technical indicators to deliver precise market levels and actionable trade ideas. My approach blends classical charting with modern analysis tools to help traders navigate market volatility. Through VieCapital, I aim to share daily market analysis, trading strategies, and educatio…

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NIFTY 25 MAY 2021 : Reverse H&S pattern is under confirmation. Can it challenge for New alltime high?

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