Nifty 20/08/2018

1. 6826-8969=2143
2. 8969-7894=1075
3. 7894-11172=3278(<161.8%)
4. 11172-9952=1120(>38.2%)
5. 9952-->11612(38.2%)/12125(50%)



I.   9952-10929=977
II.  10926-10558=368
III. 10558--->11535(100%)/11766(123.6%)/12139(161.8%)


head and shoulder pattern going to form on 20/08/2018??
if market opens with gapup and didn't cross 10490 shorts can be taken assuming it will create right shoulder. Sustaining below 11460, it can goes till 10430.
if NS doesn't goes below 11460 after gapup opening(and down move) then it may be H&S failure so longs can be taken after NS cross right shoulder high.
If gapup opening failed to sustain above 11490, it's a failre to cross UBB and it might come down

Go short near 11480(SL 11495), watch out 11460 level, if broken then more fall.
LONG above 11495(SL 11480); targets are 11535/11578