UCOBANK has given inverted head and shoulder breakout around 12.5 levels.
Entry: on daily candle close above 13 levels.
SL: Below 12.3 levels.
Target: Around 14.5
Note: PSU Banks are bullish and this is underrated stock, we may see some rerating based on results. Price action seems to be already confirming long.
Usually Inverted HnS pattern depicts trend reversal, so this may be the bottom for the stock.
Entry: on daily candle close above 13 levels.
SL: Below 12.3 levels.
Target: Around 14.5
Note: PSU Banks are bullish and this is underrated stock, we may see some rerating based on results. Price action seems to be already confirming long.
Usually Inverted HnS pattern depicts trend reversal, so this may be the bottom for the stock.
Trade closed: target reached:
Target reached :)
Comment:
It is looking bullish and good to hold for long term as well with trailing SL.
Trade closed: target reached:
Reached 21 ;-)
Trade closed: target reached:
From breakout level of 12.5, stock has now reached 36, that is almost 3 times within 1.5 month. One should have conviction to hold n ride the profit ;-)