TATVA -- BULLISH VIEW (EDUCATIONAL PURPOSE)
Inverted head and shoulder pattern formed after long downtrend of around 4 years
This indicates probable reversal
Increase in volumes is also seen along with the Inv head and shoulder pattern formation which adds more strength to the pattern
Long position can be initiated at around 1080-1085 levels (on slight correction) CMP 1146
Stop loss : below 886 on weekly closing basis (-20%)
Target 1 : 2820 (160%) {Time horizon : 40-48 months (till July 2029)}
Target 2 :3935 (363%) {Time horizon : 60-72 months (till July 2031)}
RR ratio :
For 1st target : 1:8
For 2nd target: 1:18
PURELY INVESTMENT VIEW-- NOT FOR SHORT TERM TRADING
Inverted head and shoulder pattern formed after long downtrend of around 4 years
This indicates probable reversal
Increase in volumes is also seen along with the Inv head and shoulder pattern formation which adds more strength to the pattern
Long position can be initiated at around 1080-1085 levels (on slight correction) CMP 1146
Stop loss : below 886 on weekly closing basis (-20%)
Target 1 : 2820 (160%) {Time horizon : 40-48 months (till July 2029)}
Target 2 :3935 (363%) {Time horizon : 60-72 months (till July 2031)}
RR ratio :
For 1st target : 1:8
For 2nd target: 1:18
PURELY INVESTMENT VIEW-- NOT FOR SHORT TERM TRADING
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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.