Hi guys, today I'm back with a stock Hindustan Petrol, as you can see it's an inverse head and shoulders pattern after a big downtrend and it also broke 200 ema giving us some more confirmation, if we talk about targets then the targets are 302.50. The best thing about this stock is that it always respects the 200 ema, so we can assume that this time it'll also...
Pi Industries Cmp 3016 dated 13-3-2023
1. Head & Shoulder Pattern on chart.
2. Breakdown of the Pattern already done @ 3030
3. RSI breakdown
Sell @ Cmp 2950-2900-2860-2750 SL 3125
It is just a view, please trade at your own risk.
The structure indicating that the scrip in last leg of corrective phase - wave 2
Crossing Swing highs would make a valid Inverted Head & Shoulder Pattern - as the move in head was a clean 5 wave structure. A probable Trend reversal on long term chart.
We would be looking to have a starting position on green closing (daily TF) and add as and when the swing high...
The Higher Time frames look solid.
Multi-year Breakout Contender.
On the Lower Time frame an inverted Head and Shoulder was spotted.
A breakout happened and followed it up with a retest.
Stock is moving in a Rising Wedge.
I expect an upward rally from here on to the top end of the wedge.
We have seen a bearish move in Nifty and Reliance from couple of days.
Today, Reliance is at a strong support forming head and shoulder pattern at neck line. Wait and watch how the market reacts now.
After breaching the all time high of 2086 formed on Feb'2020, stock is correcting lower in a Complex-Corrective-Wave - WXY structure. Stock is already concluded its Wave-X at the high of 1925 and currently unfolding into Wave-Y of which wave-b is taking a formation of a Bearish Triangle . The measured target where Wave-W becomes equal to Wave-X is coming in...
As we can see NIFTY again got rejected from our demand zone which we have made earlier and the zone 17250-17300 has been acting as a important zone of inflexion and this level has been already tested multiple times making it weaker hence if NIFTY fails to sustain itself above given level then we can see a big fall as we can see a head and shoulders pattern hence...
H & S Correction is almost over (It is not necessary that after H & S correction, it may move up)
After the present market corrections, one may consider for entry
Also note that it is already retraced 61.8 % from the top and is started to move up ( A normal concept only)
Present RSI is 45.3
Two expected targets for short / long term is given.
Disclaimer: It...
Hello Friends So as we all know that after the crisis of 2020 Covid crash the market boomed rapidly up and respect any resistance but after the year 2021 was just 4 months away from ending Market crashed for the first time and after it we can see some more possibility of going the market down as we have spotted a head and shoulders pattern in nifty and also the...
Hello I don't know that have you spotted it or not but..... i spotted it today when i was analyzing Nifty 500 i found Cholamandalam Housing i found a very small head and shoulders but when i looked it more deeply i found this. But as you all know we can't sell it like intraday as we can only buy in delivery so but to take knowledge you can watch some similar...
Hi All,
Looking at chart for the pair, I previously expected the pair to form an inverted H&S, but instead of that, the pair is trying to form a DB to move ahead.
The plan is to look for a short sell in this pair.
Entry , Sl and TP marked.
Thank you
Inverted head and shoulders pattern is very common reversal pattern. After a downside or a range bound structure this pattern can be fruitful. Basically the targets are same as the depth of the Head. Head is the middle portion followed by a shoulder on each side. There is a neckline connecting all the points. Here the neckline comes around 180. The stock made a...
CUMMINSIND:- The stock has formed a head and shoulder pattern on the daily chart, keep an eye
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...
CRUDEOIL - MCX
Study on Daily Chart
1. M- Pattern
2. Inverted Head and Shoulder Pattern
This chart is only for educational purpose . Do your own study before taking any trades
