1. Pattern: Inverse Head & Shoulders
Left Shoulder: Formed near the ₹950 zone.
Head: Dipped to around ₹860.
Right Shoulder: In formation, expected to consolidate between ₹950–₹980 before breakout.
Neckline: Around ₹998–₹1,000.
This is a bullish reversal pattern after a prior downtrend, suggesting a potential trend reversal.
2. Right Shoulder Completion (Current Stage)
Price is hovering near the neckline; pullback expected to complete the right shoulder.
This pullback can retest ₹950–₹975 zone before breakout.
This forms the best risk-reward entry zone with SL below ₹945–₹950.
3. Target Projection
Measured Move = Neckline (₹1,000) - Head (₹860) = ₹140.
Breakout Target = ₹1,000 + ₹140 = ₹1,140 (also shown on your chart with blue arrow).
This is the first target zone post-confirmed breakout.
4. Entry Strategy
Entry Trigger: On breakout above the neckline (₹1,000+ zone), with weekly candle close for confirmation.
You correctly marked this as the "Entry at BO of Neck-Line".
Left Shoulder: Formed near the ₹950 zone.
Head: Dipped to around ₹860.
Right Shoulder: In formation, expected to consolidate between ₹950–₹980 before breakout.
Neckline: Around ₹998–₹1,000.
This is a bullish reversal pattern after a prior downtrend, suggesting a potential trend reversal.
2. Right Shoulder Completion (Current Stage)
Price is hovering near the neckline; pullback expected to complete the right shoulder.
This pullback can retest ₹950–₹975 zone before breakout.
This forms the best risk-reward entry zone with SL below ₹945–₹950.
3. Target Projection
Measured Move = Neckline (₹1,000) - Head (₹860) = ₹140.
Breakout Target = ₹1,000 + ₹140 = ₹1,140 (also shown on your chart with blue arrow).
This is the first target zone post-confirmed breakout.
4. Entry Strategy
Entry Trigger: On breakout above the neckline (₹1,000+ zone), with weekly candle close for confirmation.
You correctly marked this as the "Entry at BO of Neck-Line".
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.
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.