Head & Shoulder is a traditional once neckline is broken. Neckline comes close to 525-527 zone - if broken & sustained then we think of aggressive selling else avoid selling.
Safe Trading Strategy
Once hump is broken upside above 537 - we shall look for targets as mentioned below
Target 1 - 544-545
Target 2 - Once sustained above 545 - 555 as next level
Target 3 - As usual 570-577 zone
Buying close to 525-527 zone with stops below 525 for 537 -545 - 555 - 570
As we are planning to trade for upside against head & shoulder pattern so " what ?" in the title -but we should not force any trade if required levels are not met as don't forget " Tata Motors update - selling at 420''s which went to 325-330's low as mentioned in below post
Finally it is head & shoulder pattern so break below 525 - sell trade but tight stops above 527 as dip bellow 525 - it should drop to 515 as target or dipping below 525 & bouncing above 527 is bear trap where sellers will get trapped & our risky strategy starts working again.
Close to downside objective of 515 - below 525.
Downside objective of 515 - close was done at 516.50 - so we are closing for down moves & wait outside for start of upside move.
Waiting for the hint.
Any further selling only below 515 for 500 & 490 targets downside ( Only if sustained below 515 levels else avoid selling below 515)
Abhishek H. Singh, CMT
Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw