Chart shows favourable situation for Bulls to conquer
Reasons for my opinion :
1. Inverted Head & Shoulders pattern in Weekly timeframe, gives a target of 100 points to 500 level. 2. Adding to that , It is also trading in a Channel pattern which adds more to target. 3. Weekly Breakout is seen with volume.(there is wick at the top of breakout candle , need to be cautious) 4. Also in Monthly timeframe, there is a Cup&Handle like pattern.(handle formation is in progress...lets wait for it to complete.)
Then, Our Sacred Stoploss would be Weekly candle closing below 385.(Less risky) Red horizontal line - Major Resistance(may act be a consolidation zone).
LET'S WAIT AND WATCH!!!
Note - Just sharing my view....not a tip nor advice!!
Ditto my analysis and i found the neckline to be at 407. Its hard to crack but if it does and sustains above 414, its a bull's eye! but i do not see the cup and handle at your level. Its the same neckline for cup and handle at 407
mmjimm
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@vineetsehgal4000, If you too wish, then it would be nice to see your analysis for me to improve myself... I have mentioned as cup&handle LIKE pattern (by pragmatic view on seeing the bulls and bears approach on monthly time frame from sep 2009 to sep 2021 and sep 2021 to till now). All the Best!!!
but i do not see the cup and handle at your level. Its the same neckline for cup and handle at 407