Asian Paint is Making a Head and Shoulder Pattern and Trading near the Neckline. It's also giving a Negative or Bearish Divergence. Short When it breaks the Neckline with Higher Volume than the Average Volume.
Both NASDAQ and NIFTY is forming head and shoulder pattern on weekly chart and there seems to be strong correlation between these two.
Both are at top of right shoulder.
Two macro economic development
1) ECB lowers growth forecast
2) 20% down in Chinese export due to subdued demand
Liquidate positions in equity and invest into debt fund. There will be sharp...
Reliance has formed head and shoulder pattern and now it is at top of right shoulder, this is perfect time to short RELIANCE, there is very less probability to move upward due to this pattern and global sentiments
I've observed nicely formed Head & Sholder Reversal pattern. It has given good breakout and retesting the Neckline from above which offers a good opporutunity to go long with the following details
Risk/Reward Ratio above 3.14
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
THis is not convincing Head and Shoulder pattern.
Volume is not convincing at the peak of heads !!
Long term trend is down !!
You could enter at the given level with Week hold in mind .
Take profit 1 can hit as INTRADAY and if you could hold longer TP2 will also hit.
Keep in mind, Stock is not trendy as much trending sideways.
Disclaimer : not an...
Buy Entry 200 - 205
Stop loss 168
Minimum Price Target 248
Risk to Reward 1 : 1.50
24% Up Side potential.
The Recent move is supported by Higher Volumes. (Trading volume can help an investor identify momentum in a stock and confirm a trend. If trading volume increases, prices generally move in the same direction.)