Tata Chemical forms complex Head and Shoulder pattern

This is complex Head and Shoulder pattern, the pattern in past has served profits very well. Open a short on break out of pattern neckline of price below 545 for target of 455 and 390..
SL 580 (price should close above 580 on day chart to exit)
This pattern formation make idea very strong. Happy Trading.

This position will need longer time to make both target profit as the formation is long in time.

Do your own research and if this matching with mine then you are ready to go!

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Comment: Open a short when price closes below 545 (closing of intraday)
one more doubt sir ji should we open a short position as soon as price crosses below 545 or wait for close below 545
AnkitSalgia marooketan
@marooketan, I usually wait for price to sustain at 545..Mornitor lot of trade to happen around or below it before opening short.
great effort sir mast reading of the charts
AnkitSalgia marooketan
@marooketan, thanks a lot!!

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