HUDCO – Inverted Head & Shoulders Pattern with Accumulation (W)
HUDCO is showing a classic Inverted Head & Shoulders formation on the weekly chart, signaling a potential medium-term trend reversal after an extended consolidation phase. The stock has been forming higher lows since mid-2024, supported by steady volume accumulation.
The entry zone (₹225–₹235) is being retested multiple times, indicating strong demand at lower levels. A decisive breakout above ₹240–₹245 could confirm pattern completion and trigger a fresh rally toward the next resistance zone.
🎯 Key Levels:
CMP: ₹230.69 (+1.39%)
Pattern: Inverted Head & Shoulders
Entry Zone: ₹225 – ₹235
Support (Shoulder Zone): ₹200 – ₹210
Resistance Target: ₹340 – ₹360
Stop-Loss: ₹205 (weekly close basis)
📊 Technical View:
Formation of Inverted Head & Shoulders with strong right shoulder support.
Accumulation phase visible with increasing volumes and sideways base.
20 & 50 EMA alignment turning positive, supporting bullish reversal bias.
Sustaining above ₹240 could trigger the start of a breakout rally.
🧠 View:
HUDCO is showing strong base-building behavior. A weekly close above ₹240 may confirm a breakout from the neckline, paving the way for targets of ₹300+ in the short term and ₹350+ in the medium term.
The entry zone (₹225–₹235) is being retested multiple times, indicating strong demand at lower levels. A decisive breakout above ₹240–₹245 could confirm pattern completion and trigger a fresh rally toward the next resistance zone.
🎯 Key Levels:
CMP: ₹230.69 (+1.39%)
Pattern: Inverted Head & Shoulders
Entry Zone: ₹225 – ₹235
Support (Shoulder Zone): ₹200 – ₹210
Resistance Target: ₹340 – ₹360
Stop-Loss: ₹205 (weekly close basis)
📊 Technical View:
Formation of Inverted Head & Shoulders with strong right shoulder support.
Accumulation phase visible with increasing volumes and sideways base.
20 & 50 EMA alignment turning positive, supporting bullish reversal bias.
Sustaining above ₹240 could trigger the start of a breakout rally.
🧠 View:
HUDCO is showing strong base-building behavior. A weekly close above ₹240 may confirm a breakout from the neckline, paving the way for targets of ₹300+ in the short term and ₹350+ in the medium term.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.