A reverse Head and Shoulder Pattern was seen on the hourly chart which is quite bullish with stock having strong supports near 515-519 levels. The right shoulder ends exactly on the main trend line, If the H&S breaksout the the stock can be seen breaking the long downtrend coming from 790 levels.
One can go long on this counter with target of 544 - 554 keeping stop loss at 503/504 levels.
One can go long on this counter with target of 544 - 554 keeping stop loss at 503/504 levels.
Trade closed: target reached:
Both Targets achieved with the stock going as high as 565.70.
