GRASIM formed INVERSE HEAD & SHOULDER (D)
1. MARKET is clearly UPTREND
2. 50%FIB acting as now SUPPORT which was previously a RESISTANCE
3. SIGNALS formed at 50%FIB (SUPPORT):-
(i) PINBAR:-at the TROUGH of LEFT SHOULDER(confirmed by 21MA cross)
(ii) BULL.HARAMI :- at the TROUGH of RIGHT SHOULDER(confirmed by 21MA cross)
WHAT NEXT?
INVERSE HEAD & SHOULDER has allready given BREAKOUT @ NECKLINE.
INVERSE HEAD & SHOULDER upon completion, signals a BULL MARKET.
TRADERS typically ENTER into a LONG POSITION when the price rises above the RESISTANCE of the NECKLINE.
So either we can enter the trade with appropiate STOP LOSS or can enter after RETEST.
TARGET :- 160POINTS
NOTE:-SIGNALS like PINBAR/HARAMI/ENGULFING at 50/60%FIB or S/R level or S/D or MA cross increases probability of our trade.
2. 50%FIB acting as now SUPPORT which was previously a RESISTANCE
3. SIGNALS formed at 50%FIB (SUPPORT):-
(i) PINBAR:-at the TROUGH of LEFT SHOULDER(confirmed by 21MA cross)
(ii) BULL.HARAMI :- at the TROUGH of RIGHT SHOULDER(confirmed by 21MA cross)
WHAT NEXT?
INVERSE HEAD & SHOULDER has allready given BREAKOUT @ NECKLINE.
INVERSE HEAD & SHOULDER upon completion, signals a BULL MARKET.
TRADERS typically ENTER into a LONG POSITION when the price rises above the RESISTANCE of the NECKLINE.
So either we can enter the trade with appropiate STOP LOSS or can enter after RETEST.
TARGET :- 160POINTS
NOTE:-SIGNALS like PINBAR/HARAMI/ENGULFING at 50/60%FIB or S/R level or S/D or MA cross increases probability of our trade.
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