Birlasoft (NSE:BSOFT) – Bullish Reversal on Inverted Head & Shoulders
📌 Technical Pattern: A classic Inverted Head and Shoulders pattern is forming, suggesting a potential reversal from the recent downtrend.
✅ Key Highlights:
RSI Divergence at the head hints at waning bearish momentum and potential reversal.
Price is testing the neckline zone; a breakout could confirm the bullish setup.
50-period EMA (~₹452) remains overhead, acting as a dynamic resistance.
📈 Target: ~₹516, calculated from the pattern height.
🔻 Stop Loss: Near ₹376, just below the right shoulder structure.
🧠 Strategy Note: A sustained close above the neckline, preferably on volume, can offer a strong risk-reward trade setup. RSI currently at 58 supports bullish momentum continuation.
Disclaimer: Consider my analysis for educational purposes only.
Before entering any trade:
1️⃣ Educate Yourself – Understand market dynamics and technical patterns.
2️⃣ Do Your Own Research & Analysis – Never rely solely on external opinions.
3️⃣ Define Your Risk-Reward Ratio – Ensure your trade aligns with your risk appetite.
4️⃣ Never Trade with Full Capital – Always manage risk and preserve capital.
Trade wisely! ✅📊
📌 Technical Pattern: A classic Inverted Head and Shoulders pattern is forming, suggesting a potential reversal from the recent downtrend.
✅ Key Highlights:
RSI Divergence at the head hints at waning bearish momentum and potential reversal.
Price is testing the neckline zone; a breakout could confirm the bullish setup.
50-period EMA (~₹452) remains overhead, acting as a dynamic resistance.
📈 Target: ~₹516, calculated from the pattern height.
🔻 Stop Loss: Near ₹376, just below the right shoulder structure.
🧠 Strategy Note: A sustained close above the neckline, preferably on volume, can offer a strong risk-reward trade setup. RSI currently at 58 supports bullish momentum continuation.
Disclaimer: Consider my analysis for educational purposes only.
Before entering any trade:
1️⃣ Educate Yourself – Understand market dynamics and technical patterns.
2️⃣ Do Your Own Research & Analysis – Never rely solely on external opinions.
3️⃣ Define Your Risk-Reward Ratio – Ensure your trade aligns with your risk appetite.
4️⃣ Never Trade with Full Capital – Always manage risk and preserve capital.
Trade wisely! ✅📊
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.