Nifty Inverse H&S Breakout: Adani, Kotak Lead

Nifty delivered a classic inverse Head & Shoulders breakout on the 30-minute chart today. The head formed near 22,490, and the neckline around 22,780 acted as resistance for several sessions. Price moved above it with a strong green candle. It then consolidated just above the neckline before extending towards 22,960, a breakout-and-hold sequence that pattern watchers like to see. The right shoulder low near 22,657 is the level to watch as support. A fall back below the neckline would weaken the pattern. The head-to-neckline depth of about 290 points gives a measured-move reference near 23,070, which is only a reference and not a forecast. The rally was led by

, Adani Enterprises and Kotak Mahindra Bank, the top three Nifty 50 gainers today as per NSE data. That brings both the infra-conglomerate pack and banking into the move. Patterns on lower timeframes can fail, so volume, follow-through and holding above the neckline are worth observing in the coming sessions. An inverse Head & Shoulders signals a possible trend shift only when the neckline breakout holds; follow-through and volume help judge whether it is working. Disclaimer: This is for educational purposes only and is not investment advice. Please consult your financial advisor before making any investment decisions. SEBI Registered Research Analyst — INH000025212. Source: NSE data for top Nifty 50 gainers; Nifty 30-minute chart Trading View (own analysis)