BHARTI AIRTEL POSSIBLE INVERSE HEAD AND SHOULDER PATTERN
INVERSE HEAD AND SHOULDER :
An inverse head and shoulders, also called a head and shoulders bottom, is inverted with the head and shoulders top used to predict reversals in downtrends. This pattern is identified when the price action of a security meets the following
characteristics: the price falls to a trough and then rises; the price falls below the former trough and then rises again; finally, the price falls again but not as far as the second trough. Once the final trough is made, the price heads upward, toward the resistance found near the top of the previous troughs.
Near Term support of Bharti Airtel is Shoulder levels which is 315 while resistance 324-325 , A decisive break above 325 only would give pattern confirmation .
An inverse head and shoulders, also called a head and shoulders bottom, is inverted with the head and shoulders top used to predict reversals in downtrends. This pattern is identified when the price action of a security meets the following
characteristics: the price falls to a trough and then rises; the price falls below the former trough and then rises again; finally, the price falls again but not as far as the second trough. Once the final trough is made, the price heads upward, toward the resistance found near the top of the previous troughs.
Near Term support of Bharti Airtel is Shoulder levels which is 315 while resistance 324-325 , A decisive break above 325 only would give pattern confirmation .