trent : 902.35
trade setup :
1. buy above 920
2. keep stop loss as 886 on closing basis
3. targets : 946/970/1000+
technical buy based on :
1. inverse head and shoulder pattern
hourly time frame taken for the pattern study .
Selected as editor Picks 🙏
--Buy Above =126 or CMP
--Target = 157 | 190
--Stop-loss = 105
--R:R = 3.16
--Profit = 50 %
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It has been observed on a weekly chart that the price action is forming a bullish "Inverse Head n Shoulder Pattern" indicating buyers coming back in the stock and shall turnaround stock to upside in coming weeks.
It is providing a good investment opportunity with holding time of 6m-1year.
T1- 250 SL 130
• 1-2 -3 -4 (Running Currently) - 5th Wave Expected Upside.
• 4th Wave
o Unfolding as Triangle having last leg - "e" wave close to end.
o 4th Wave Triangles are "penultimate wave" means it is 2nd last wave & one more wave left in the structure which started from the lows of 1473 on 23rd / 25th March2020.
It is a Weekly Timeframe Analysis for long Term Purpose.
Buy Hdfc Life near 625-650 Stoploss 540 Target 960
Pattern : Inverse Head & Shoulder Pattern. Retest area 625-650 Zone
Target is calculated on the basis of Pattern Structure i.e. Low of Head to Breakout Point
Positional Pick !!
Clear Trend Reversal on charts with Inverse Head and Shoulder Pattern on daily charts. Price clearly breaking the resistance with good volume. Inverse Head and Shoulder can also be seen on Monthly Charts. So can breakout soon on longer time frame as well. Can turn out to be a goof investment after monthly breakout.