The stock has nicely formed Inverse Head & Shoulder Reversalpattern and trading above Neckline. This simple classical pattern does not require any explanation to trade. I have found and posting here to trade and make profit from it.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
It seems that TECHM may follow Head and Shoulder pattern to touch 645 level. There seems to be good support from where it has bounced back. Let's see whether 645 holds or goes even lower.
Interestingly TCS also has a similar pattern.
EU is consolidating forming a flag pattern after the big move followed by the rejection at the key support zone.
While at the same time it is now constantly getting rejected at the H&S neckline.
I have the marked the trade idea as a "Buy Signal" because the pair is still absorbing the supply with good momentum.
However, I would be trading in whichever direction...
Hi Swing/Long Traders,
Reliance form Head & Shoulder pattern on daily chart
Coming close to near important support zone from here it has reversed 2 to 3 times .
Buying can be done in support zone with strict stop loss of Rs 1012 & for target Rs 1295 mentioned in chart.
Risk to Reward for this trade is 1:2.5