Inverse H&S | RSI Heat up

1600 is the crucial level to watch out for. Go long if it is able to close and sustain above that level.

On the downside, the range around 1470-1500 could act as support which would be a golden chance to shop this counter.

Analysing historical RSI suggests that the price reversed when RSI clocks mid 70s. Currently RSI stands at 74.67. Expect a one time price reversal before the stock finally rallies past 1600.
Comment: Finally the breakout with huge volumes. Definite momentum.

Those who are long should keep SL at 1600. Stay long.


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