MOIL - Reverse Head & Shoulder Pattern

MOIL has formed Reverse Head & Shoulder Pattern after long down trend. Can be added at current level around 157-158 with target of 170 and set SL at 153. This gives us risk to reward ration of 1:3.

Disclaimer:
This idea is only for education purpose, Please consult your financial advisor.
I am not SEBI registered.

Trade active

Comment:

- 160-162 is acting as resistance level and 155 as support level right now
- If it breaks the resistance then we can expect 168-170 as next target

Trade closed: stop reached:

Chart is moving sideways and not moved as expected.