VIP Industries. Head and shoulder pattern
Updated
VIP Industries Daily Chart.
Head and shoulder pattern with Neckline clearly identified in Daily Chart.
Head and Shoulder is not always reversal Pattern. Neckline is strong support.
Trader should trade reversal trade only if Neckline breaks.
At the moment VIP is taking Support at Trend line.
Long trade can be initialted at cmp 542.00 with stop loss less than 4% at 525.00
Head and shoulder necline reversal confirm the 3 Bottom Pattern indicate strong support at 525 -530.
Head and shoulder pattern with Neckline clearly identified in Daily Chart.
Head and Shoulder is not always reversal Pattern. Neckline is strong support.
Trader should trade reversal trade only if Neckline breaks.
At the moment VIP is taking Support at Trend line.
Long trade can be initialted at cmp 542.00 with stop loss less than 4% at 525.00
Head and shoulder necline reversal confirm the 3 Bottom Pattern indicate strong support at 525 -530.
Note
CMP : 600Observe: Neckline act as Strong Support.
542 to 600 = 58 Points with 17 Points stop loss.
VIP is getting ready to touch next Target. i.e. 634
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