A Head & Shoulder Pattern on Nifty - Refer to my previous post

In Continuation to my last post on Nifty yesterday, i.e. 7th Nov 2024, we can clearly see the weakness in Nifty that is prevalent.
A Head & Shoulders pattern is developing on the 4H chart.
Clearly, the buyers aren't able to sustain momentum and this typically is a sign of overvaluation.

While there may be sharp rallies to the upside, these will most likely get sold into.
I have marked the levels on the chart. My Targets are mentioned in the earlier post.

Short Target-1 on Swing basis - 23,550.

Further this might also break and try for a retest and we could finally come down to 23,375 - 23,400 levels.

Stay tuned and trade responsibly!