ICICIPRULI ::change of trend with inverse H&S may see 450 levels

Jan 8, 2018

ICICIPRULI was in a falling wedge pattern from which it has a convincing breakout on 19/12/17 and also a throwback to the falling wedge pattern found support on 2/1/18. Now a valid ( with break of neckline ) inverted Head & Shoulders pattern has been formed today 8/1/18. Inv H&S is a very strong reversal pattern and as per measured move the immediate target would be 440-450 levels.
Longs can be initiated at current levels or better around 400-405 levels with a stoploss below 392.
Also price is trading above all the three 20,50 and 200 ema and are all pointing upwards suggesting uptrend.

Jan 10, 2018

Note

watch for a throwback and test of 400 levels

Jan 15, 2018

Note

Tested the 400 levels on friday and had 3% up move today.
Also on daily charts , bullish continuation candlestick pattern called rising three methods has been formed today ( although there are four bear candles in between )