NIFTY 50 Daily Chart Study – Head & Shoulders Breakdown (24 JulyNifty 50 IndexNSE:NIFTYMntVerseToday, I studied the Head & Shoulders bearish reversal pattern on the NIFTY Daily chart. I observed that the price has broken below the neckline with a strong bearish candle, which suggests that sellers are currently dominating the market. The market structure has also changed from an uptrend to a Lower High (LH) and Lower Low (LL) pattern. This is an important sign that the bullish trend may have ended and the market could continue moving lower. Although the overall trend looks bearish, there is still a possibility of a short-term pullback towards the 23,930–24,000 neckline area before the next downward move. If sellers continue to defend this resistance zone, NIFTY may decline further towards 23,760, then 23,600, and eventually 23,100–23,150, which is the projected target of the Head & Shoulders pattern. However, if NIFTY closes above 24,050–24,100 with strong buying momentum, this bearish setup will become invalid, and the market could move higher instead.