ALBK - Head & Shoulder -2nd Innings starts soon above 72.50 -88

1st Innings Head & shoulder breakout + confirmed by double top@73.50 gave the push upside & turned from 77 highs which was shy of 1-2 points from 79-80 -closing last trading day at 71.50 levels.

Price has pulled back to the neckline which can give another opportunity to bulls & this time if it surpasses 79-80 zone then it attempts 88-90 zone next.

Once it starts moving in your favour, you should keep trailing with profit stops.

Trading Plan
Likely ALBK can hold into Right Shoulder zone 69-70 or moving above 72.50 - we need to keep a watch as it could be early signal for 78 - 80 zone & above 80 for 88-90 zone.

Head & Shoulder -1st Innings above 73.50

Long Term Analysis turning above 65 - Lawyer back in the courtroom

Trade active:

10:33 Hrs 8th Aug2017

Last Price@70.35

Makes low@69.65 Goes into Right Shoulder low@69.40 & bounces - 1st set done & now if support comes then we go next set which is upside.

Comment:

08:32 Hrs 9th Aug2017

Last Price@69.85

Global Markets are weak - we need ALBK to push above 70 to give confidence for upside move else going below 69 - we will stay outside for temporary period & keep a watch once it starts moving above 70 & later 73 -that will be good sign for upside.