BAJEL -inverse head and shoulders- Good Volume -BreakoutThe chart **Bajel Projects Ltd.** (BAJEL) on the **NSE**.
Key observations:
1. **Pattern:**
- A clear **inverse head and shoulders** pattern. This is typically considered a bullish reversal pattern.
2. **Breakout:**
- The price has broken above the neckline resistance 267 (yellow trendline), with significant bullish momentum.
3. **Measured Move Target:**
- The projected target, calculated from the breakout point to the height of the pattern, is shown as **42.10 points** or approximately **15.72%**.
4. **Key Levels:**
- **Support Levels:**
- **233.36:** A major support level aligning with the pattern's base.
- **267.00:** Previously resistance, now acting as support post-breakout.
- **Resistance Levels:**
- **306.80:** A key resistance level after the breakout.
5. **Volume Analysis:**
- A spike in **volume** confirms strong buying interest during the breakout, supporting the bullish move.
