skandha1986

MFSL - Inverted Head & Shoulder breakout- Trend Reversal pattern

Long
skandha1986 Updated   
NSE:MFSL   MAX FINANCIAL SERV
MFSL has formed an Inverted Head and Shoulder pattern and given a good breakout at the neck level 725-730.
This stock has been in down trend since Jul'2021.
This is a trend reversal pattern. Looks good for long term (6 months to 1or 2 years).
SL: Daily close below 670.
Immediate target can be 825 - 830 then 870 (previous swing high).
Note: This is highly volatile and illiquid stock.
200 EMA levels of 765-770 can be a small hurdle zone.
Trade active:
Doing good in weak market, stock looks strong.
Trade closed: target reached:
827 target reached :)
Can hold for long term with trail SL.

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