nimbuz90

Inverted head and shoulder formation

Long
nimbuz90 Updated   
NSE:CHENNPETRO   CHENNAI PETRO CP
This setup is a short term scalp. The stock has formed an inverted head and shoulder pattern at the support zone . Hence we shall see this opportunity as a short term pullback move till 570.

Entry - Go long above 349 or enter when it pullbacks to 344 area.
SL - 338
T1 - 355
T2 - 360

For educational purpose.
Thanks.
Trade active
Comment: Target 1 done
Comment: Trailing my SL to 354 for the rest
Comment: Target 2 done. That was a good 3% upmove for an intraday trade.
Trade closed: target reached: All targets done. I personally closed my entire position at 360, but the price moved sharply till 370 as mentioned earlier. Nice move.
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