Inverted head n Shoulder on MAZDOCK

Jul 22, 2021

CHART ANALYSIS OFMAZAGON DOCKYARD SHIPBUILD LTD (MAZDOCK)


Chart Analysis :- On Hourly TF of MAZDOCK we can see that stock is forming Inverted Head and shoulder pattern which is Bullish signal for the stock and it also given a breakout from neckline and taking support on neckline so we can see that up move in the stock to our expected targets. We can take confirmation of indicators like

• DMI – ON DMI indicator DI+ line is above the DI- line and ADX is also supporting which is above 29

• RSI – RSI currently in a oversold range which means we can see a little consolidation near neckline before the up move

• MACD – MACD is also showing Bullish signal we see from rising volume and a golden Cross.


Entry point- 270 - 271

Targets -
277
283
295



Stoploss –

• 260


Disclaimer:- This chart is for Educational purpose , I am not a SEBI registered analyst please do your own research before investing.

Jul 29, 2021

Trade closed: stop reached

Stop Loss hit!!!!