Elgi Rubber. Turnaround in trend with inverse head and shoulder

Previous trend: Down Trend (66 to 11)
Present trend: Consolidation (price has again tested Neckline)
Support: 23.90 and 16.10
Resistance: 36.55 and 49.15
Reversal Pattern: Inverse Head and Shoulder
Volume: highest volume of 2.7 mn on the day downward trend line broken.
Price invalidation level/stoploss: 22 on Monthly Closing Basis.

Disclaimer: Only for educational purpose. Do trade as per your risk management.

Comment:

36.55 done next stop 49.15

Trade closed: target reached:

high 49.80. done and dusted