Head_and_shoulder
RBLBANK [Head and Shoulders Pattern]Head and Shoulders Pattern
A head and shoulders pattern is a chart formation that appears as a baseline with three peaks, where the outside two are close in height and the middle is highest. In technical analysis, a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal.
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KNR Construction buy call for good returnThe stock breakout Inverse Head & Shoulder 3 session before with good volume. RSI just shows above 60, required to remain above 60.Bullish cross Over in MACD & On Last session Close above Ichimoku Cloud.
Buy above 300
CMP-299.85
Terget-352
Stop loss-280
Happy Investing
NIFTY - Head and Shoulder pattern.Nifty at important support of 17000. 17000 has been tested 6 times already on a daily time frame. Huge put open interest on 17000 PE and weekly PCR is 0.49 which indicate market is at a crucial support and market is heavily oversold. Monthly OI also indicates put unwinding majorly at 17300 but still put writers stuck. On an hourly time frame NIFTY seems to be making a head and shoulders pattern with the left shoulder and head made. Expecting a short term reversal in the market till levels of 17325 to 17425. This would give an opportunity to put writers to exit their weekly and monthly positions and also improve the PCR.
Head and Shoulder Pattern in the making Stock price movement has formed head and shoulder pattern on monthly price chart. Best seen when you change chart type from candles to line. An investor has to observe caution as this pattern is the reversal pattern. We have to watch out for further price movement. If the price falls below neckline drawn on the chart then fall may continue up to height of head from neckline. However, seldom actual drop confirms according to textbook fall. But, further buying shall only be initiated if price movement does not lead to head and shoulder. RSI on monthly chart indicates enough upside possible in the stock
Nifty 50 Analysis Based on Price ActionHead and Shoulder pattern noticed in Nifty in Daily Time Frame
Head and Shoulder is a trend Reversal Pattern
Neck Line of the H&S Already Broken
If the immediate Support of 17600 Breaks we might see a further correction up to 17200
55 EMA is showing Weak Signals
But if it takes support so we can see a small pullback in the upside and consolidation for few Weeks
Upside Resistance Levels are at 17900