Inverted Head and Shoulders (Bullish Reversal Pattern)
Breakout: Price has broken above the neckline on a bullish candle with good volume, confirming the breakout.
✅ Entry Point
Breakout Entry: ₹300–₹305 zone (close above neckline).
Since price is at ₹304.10 currently, it's still close to the breakout — suitable for entry.
🎯 Targets
Measured move = Height from Head to Neckline, then projected above neckline:
Neckline: ₹300
Head Low: ~₹245
Height = ₹300 - ₹245 = ₹55
🔼 Target 1: ₹300 + ₹55 = ₹355
(Final resistance line on your chart = ₹356.05 — matches perfectly!)
🔼 Optional Intermediate Target: ₹345.20
(As marked in the chart — could be a resistance from earlier highs.)
🛑 Stop Loss (SL)
Set below the right shoulder or neckline, depending on your risk appetite: Safe SL: Below right shoulder ~₹290. Aggressive SL: Below neckline ~₹295
⚖️ Risk-Reward Example
Entry: ₹304
SL: ₹290 (Risk = ₹14)
Target: ₹355 (Reward = ₹51)
Risk:Reward ≈ 1:3.6 ✅
Breakout: Price has broken above the neckline on a bullish candle with good volume, confirming the breakout.
✅ Entry Point
Breakout Entry: ₹300–₹305 zone (close above neckline).
Since price is at ₹304.10 currently, it's still close to the breakout — suitable for entry.
🎯 Targets
Measured move = Height from Head to Neckline, then projected above neckline:
Neckline: ₹300
Head Low: ~₹245
Height = ₹300 - ₹245 = ₹55
🔼 Target 1: ₹300 + ₹55 = ₹355
(Final resistance line on your chart = ₹356.05 — matches perfectly!)
🔼 Optional Intermediate Target: ₹345.20
(As marked in the chart — could be a resistance from earlier highs.)
🛑 Stop Loss (SL)
Set below the right shoulder or neckline, depending on your risk appetite: Safe SL: Below right shoulder ~₹290. Aggressive SL: Below neckline ~₹295
⚖️ Risk-Reward Example
Entry: ₹304
SL: ₹290 (Risk = ₹14)
Target: ₹355 (Reward = ₹51)
Risk:Reward ≈ 1:3.6 ✅
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.