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Head and Shoulders

Can Paytm reach 1000 with this breakout?The infamous stock of Paytm which was the largest IPO at the time of its listing has eroded IPO investor's wealth by more than 50%. However, the strong has been consolidating from quite few months now. We have seen multiple buybacks from the founder and promoter in this stock during the same which was a positive sign. However, near the release of Q4 2023 results, the stock had started its uptrend by forming higher highs, higher lows. Now, the stock has given a breakout of inverted head and shoulders with heavy volumes last week whose neckline was 750. The stock has given weekly closing above 800 levels which is a big positive for the stock. The stock might face an immediate resistance near 840-850. One can keep this stock on watchlist for buying near retest of 750-760 levels if there is a retracement for big targets of 990, 1125. Note:- This idea is shared for educational purposes and should not be considered as a recommendation.
NSE:PAYTMLong
by chartistamey
2
XCHANGING SOLUION : Breakout Candidate#breakoutsoon #breakoutcandidate #breakouttrading #patterntrading #XCHANGING : (1-3 Months) >> Inverse Head & Shoulder Pattern >> Trending setup on Weekly TF >> Good strength & Volume Swing Traders can lock 10% profit & keep trailing Please Like or comment if u r Liking the analysis & Learning from it. Keep showing ur Love Disclaimer : This is not a Trade Recommendations & Charts/ stocks Mentioned are for Learning/Educational Purpose. Do your Own Analysis before Taking positions.
NSE:XCHANGINGLong
by moneyfesttrading
PEL FORMING INVERSE HEAD AND SHOULDERThe stock is forming an inverse head and shoulder on larger aspect which also can be called the dominant or bigger pattern moreover if we look at smaller aspect the stock is forminng cup and handle the cup has been formed and now the process of handle is being initated . the downtrend part of the handle has been finished and now uptrend is going to take over . the stock has taken a crucial support at the 881 levels twice which shows further reliability . the stock can reach till 1131 level in no time and 1640 in 2-3 months followed by unprecedented rally
NSE:PELLong
by keshavmaharaj958
AUROBINDO PHARMA looks like its going to blastAuropharma is making an inverse head and shoulder pattern at a resistance level, now this is not a reversal pattern, it is a bullish continuation pattern which forms during an ongoing trend. The only point of concern is that the pattern is being formed at a resistance level of weekly timeframe. Weekly levels hold more weightage than any short period timeframes. If you love to risk then go ahead otherwise if you are a confluence trader like me, you can skip it. If the breakout comes real, this will hopefully touch all time highs. If i had to enter this, i will wait for a retest
NSE:AUROPHARMALong
by crocodile_trader
Possible trend reversal break-out. #Evidence of bottom and trend reversal *As shown in the chart stock price has started forming higher high's and higher low's (3 higher high's and 3 higher low's) *Stock giving break out of bottom reversal inverse head and shoulder pattern,by clearing multiple previous pivot high's neckline *Stock crossing 200 EMA,re-testing it and moving back above it making higher pivot low *Every raise is accompanied by decent volumes,indicating smart money entering. Over-all at CMP of 25.50 one can go long keeping stop-loss at 20.00 and can expect prices to show 37-39 and 44-46 levels in coming days.Hence we have Risk reward of 1:3 Disclaimer:This are just my views on the stock no position should solely be taken on its basis.
NSE:TAKE
by UNDERDOG-29