NHIn last 4 year after giving good run up
it is not distributing by forming head n shoulder
any closing below the channel would be selling
Headandshouders
Head and Shoulders in RELIANCERELIANCE has formed head and shoulders top pattern on the weekly chart. The stock is hovering at the trendline, as bulls got rejected this week.
A breakdown from here can take the stock all the way to 200WMA of 2000 and perhaps subsequently toward 1830 support zone .
Keep an eye!
sell on rise stock, H&S breakdown
T- 1150/1065/967
SL - 1425/1500
Time frame : 90 days
Reason : Rate hike , Inflation could keep it down, so its prudent to sell on rise.
