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Head_and_shoulder

An Analysis in Harmony Top-Down Approach chart studyHello Friends, Today, we have something special in store as we take a top-down approach to analyze a specific stock - Tata Communications in the world of trading. By employing this multi-time frame method, we'll be diving into various charts, starting from the big picture down to smaller timeframes. Before we begin, please remember that trading carries risks, and past performance does not guarantee future results. The analysis we're about to discuss is for educational purposes only and not financial advice. Alright, let's kick off our analysis with the big picture - the monthly chart of Tata Communications. Here, we've identified an exciting Elliott wave count - the third wave of the fifth wave. According to Elliott wave theory, markets move in a series of five waves in the direction of the main trend, followed by three waves in a corrective direction. The third wave is well known for its strength and often the longest in a trending market. So, on the monthly chart of Tata Communications, we're witnessing this powerful third wave within the fifth wave, indicating potential significant moves ahead for the stock. Next, we'll move down to the weekly chart to gain more insights. On this timeframe, we observed a thrilling development - the "inverted head and shoulders" pattern. This pattern aligns perfectly with the larger Elliott wave count on the monthly chart, supporting the idea of a trend reversal and a potential new uptrend for Tata Communications. Finally, we'll zoom in even closer to the daily chart. Here, we have another intriguing pattern - a "flag and pole" pattern in the forming stage. This daily pattern further reinforces the notion of an upcoming bullish move for Tata Communications, in line with both the weekly inverted head and shoulders breakout and the monthly Elliott wave count. On daily time frame Flag and pole chart patterns, flag in formation and still breakout is pending By utilizing the top-down approach, we've gained a comprehensive understanding of Tata Communications' potential direction. The monthly Elliott wave count provided us with the big picture, the weekly inverted head and shoulders confirmed the trend reversal, and the daily flag and pole pattern hinted at a continuation of the upward movement for the stock. But remember, trading involves risks, and there are no guarantees. So, it's essential to approach it with caution and use risk management strategies to protect your capital. In conclusion, we've taken a top-down approach to analyze Tata Communications, considering the monthly Elliott wave count, the weekly inverted head and shoulders breakout, and the daily flag and pole pattern in the forming stage. Keep a close eye on these patterns and the stock's price action, and remember to trade wisely and make well-informed decisions. I am not Sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Thank you for joining us on this exciting trading journey ! Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Hope this post is helpful to community Thanks RK💕 Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:TATACOMMEducation
by RK_Chaarts
23
Head & Shoulders Trade | KOTARISUGKotarisug after multiple rejections, has been broken out of a neckline resistance with good volumes. With a solid base, chances of a successful breakout & follow-up increases. Points to note before initiating Long: ----------------------------------------------- 1. An inverse H&S base with multiple touches to the neckline, respecting that resistance. 2. Volume pick up near the Right Shoulder, after a period of inactivity : big buyers incoming 3. A breakout of the neckline with good volumes. Considering these points, long trade initiated as follows: Entry CMP - 41.9 SL 38.75 Targets of 49.8 (Pattern Height) Disclaimer: Always trade with proper money management & analysis. Always enter SL first.
NSE:KOTARISUGLong
by Divergent_trader
1
Inverted head and shoulder | ERISinverted head and shoulders pattern formation in stock price is resisting at neck line of head and shoulder pattern once price breaks this resistance of supply zone price expected to move upward Stock successively running in down trend making lower higher and lower lows but here trend is trying to change where it created peak of low and reverse back and again try down attempt but its over in small move price changes to up side and creating higher high and higher lows this is how head and shoulder formation created. Price down by 5 times when it comes to supply zone but this time at supply zone price not getting down but also sustaining at it higher level so we can see buyers are winning over sellers will see breakout once price breaks the blue zone drawn on chart
NSE:ERISLong
by ProfitPicks
"HCL Technology: Bullish Reversal with Inverted Head & Shoulder"Description: HCL Technologies (HCL Tech) has formed a visually striking bullish head and shoulders pattern on the price chart, indicating a potential upward trend. Traders and investors may find this setup appealing for potential trading opportunities Key Points: - Pattern Type: The pattern observed in HCL Tech's chart is a bullish head and shoulders pattern, which is a reliable trend reversal formation. - Entry Range: Consider entering the trade within the range of 1160 to 1175 for optimal risk management and potential profit capture. - Stop Loss: To safeguard against adverse price movements, set a closing basis stop loss at 1100. - Target Levels: The price targets for this bullish setup are 1360 and 1470, offering significant upside potential. Disclaimer: Please note that trading and investing involve risks, and it's essential to conduct your own analysis and consider market conditions before making any trading decisions.
NSE:HCLTECHLong
by karuneshBajpai
10
CENTURYTEXCENTURYTEX:- Stock has formed head and shoulders pattern on daily time frame, wait for breakout till then keep an eye on the stock Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
CLong
by AjayDhakad_Keep_it_simple