VEDL Head & Shoulders on 1H
Updated
VEDL has formed head and shoulders pattern on a trendline on Hourly chart. We wait for the trendline support at 390 to be broken for the selling pressure to take steam. Once broken, we can expect price to reach the measured move target of 350.
Trade closed: target reached
Target met. Although the price opened big gap down on Friday, 6 May because of which there was no clear entry.
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