LovUAli

Inverted Head and Shoulder Chart

Long
BSE:SAIL   STEEL AUTHORITY OF INDIA LTD
Inverse head and shoulders chart is in making.

Red lines are acting as target/resistance.

Recent price drop in the metal sector could be an opportunity to accumulate or make fresh entry.
Comment: Strong Resistance is at 81 and Strong Support is at 65
Comment: alternative chart of this stock is available in comment, by which it seems to break the parallel channel.

Comments

Its not head and shoulder because in this patter head low must not cut .....right shoulder ka low head ke low se jada niche hai .....
+1 Reply
LovUAli gajendramourya39
@gajendramourya39, agree its not an idle one, i observed its trading under a parallel channel see my observation below:
Reply
I dont think this is an inverse head and shoulders pattern. looks much like a downward trend.
+1 Reply
LovUAli efficientBook69799
@efficientBook69799, could be but i am assuming it other way, let's see what's it transpires .. if its not an inverse head and shoulders then it seems to be parallel channel for which its trading at resistance.
Reply
Right shoulder lower than head How is that Inverse head and shoulders pattern?
+1 Reply
LovUAli Niftydirection
@Niftydirection, yeah its not an idle one, but i found it similar.
Reply
but all other Sher's near all time high....& metal sector also...
... if sector reverse....then.......sail...?
+1 Reply
LovUAli SagarMore007
@SagarMore007, yeah for that keep your SL as per your appetite, i chose this one because this hasn't performed much due to govt. OFS at lower price. so i expect this to grow for at least 3 months more.
Reply
super 👨‍💻👌🎉
+1 Reply
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