Interglobe Aviation Short

Oct 20, 2021

Head and shoulders: 3 Peaks with the middle one being the highest indicate a head and shoulder-like formation which indicates a Bearish Reversal and a major downtrend. This breakout is accompanied by huge volumes being traded and generally a long bearish (red) candle. One can expect the prices to go as low as the difference between the topmost peak and its baseline. In this case we can expect an approximate of 15% fall in the prices if such a breakout is to happen.

Keep an eye out as the pattern is still incomplete. This graph is only for educational purposes; invest at your own risk.

Stoploss: 2055
Target: 1650