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Head and Shoulders

Retested Weekly BO in MASTEK LTD MNC A Inverted Head & Shoulder Chart Pattern Breakout retested on the Weekly Time frame of NSE:MASTEK Price Action supported by volume. The stock is currently in uptrend making higher highs and higher lows. One can add this stock into their stocks to buy list and initiate the long trade as per the level mentioned on the chart. Stop loss will be on a Weekly closing basis. Trend Analysis :- UP Trend Chart Pattern :- Bullish Inverted Head & Shoulder Chart Pattern Technical Indicator :- Positive MACD Crossover Disclaimer:- This is for Education purpose only
NSE:MASTEK
by raigvivek
Bank Nifty Head & ShouldersHi friends hope you are enjoying your morning's Tea or coffee with scrolling Trading view ideas for taking a view on market so it's a daily chart of Banknifty i am sharing today, as we can see that price is trading in an ascending channel and created a Bearish Head & Shoulders pattern on provided chart and came down after breaking the neckline. Pattern is not very clear from the right shoulder because it's a chart not a drawing book only we have to understand that what is it and what is resembles and can act according to it. So mates as we can see price is sharing a adjoined spot of 100 ema and channel support both so i assume if price will break these combined levels and close below we can see further fall for the levels of 43400 to 42700 on the top side 44600 to 44900 these levels it will face strong resistance if price will bounce from here as pattern neckline is placed in this zone and sellers will sure take a sell on rise advantage there. Thank you for reading if you find something good it please like and motivate me This is kind of a follow up publication for recently published idea on Bank nifty you can check that idea also in my profile sharing link below too. This is not and trade or investment advice. This idea is meant for learning only. Best Regards Happy Trading- Amit Bank Nifty Head & Shoulders
NSE:BANKNIFTY
by AMIT-RAJAN
38
BankNifty at an Interesting JunctureBankNifty is currently positioned at a pivotal point, presenting traders with a potential opportunity. From a statistical perspective, the presence of a head and shoulder pattern at an all-time high often indicates a forthcoming correction. If this head and shoulder pattern is invoked, we could witness a correction ranging between 1500 to 1900 points in BankNifty. The chart elucidates the situation clearly. There is a robust support level at 44,000, with resistance levels situated at 45,000 and 45,500 . It's essential to remember that trading is fundamentally about gauging probabilities. If a downward movement ensues, it could drive BankNifty to levels around 42,000 . Conversely, if the head and shoulder pattern does not materialize, the index might challenge the right shoulder high, which corresponds to the first resistance level. Should it breach the second resistance at 45,500, it becomes highly probable that the all-time high will be surpassed. Trade wisely, and always consider the inherent risks and probabilities.
NSE:BANKNIFTY
by msk_analysis
Bandhan Bank - Head and Shoulders Bottom"Head and Shoulders Bottom" or "Inverse Head and Shoulders" pattern formation on daily chart of BANDHANBNK. This pattern is often used by traders to identify potential trend reversals in financial markets, particularly in stocks. The pattern indicates a shift from a downtrend to an uptrend. Here's a breakdown of the pattern: Downtrend and Accumulation: The pattern typically forms after a prolonged downtrend. During this period, the price reaches a bottom and starts to consolidate, forming what you referred to as a "period of accumulation." Three Declines: The pattern is characterized by three price declines: a lower low (the head) surrounded by two higher lows (the shoulders) that are roughly at the same level. The head and shoulders create a distinct visual pattern that resembles a head with two shoulders on each side. Volume: In the context of this pattern, volume plays a significant role. It's usually highest during the formation of the left shoulder and the head. As the right shoulder forms, volume tends to decrease, indicating diminishing selling pressure. Neckline: The neckline is drawn by connecting the highs of the two shoulders. It acts as a resistance level that needs to be overcome for the pattern to be confirmed. Reversal Confirmation: The pattern is confirmed when the price breaks above the neckline. This breakout is typically accompanied by a surge in volume, indicating increased buying interest. This breakout suggests that the selling pressure that had dominated the downtrend is waning, and buyers are gaining control. Price Projection: Traders often project a target for the new uptrend based on the pattern's height. This can be done by measuring the vertical distance from the lowest low (the head) to the neckline and then adding that distance to the neckline breakout point. It's important to note that while the Head and Shoulders Bottom pattern can be a powerful tool for identifying potential trend reversals, it's not foolproof. Not all instances of this pattern lead to successful reversals, and false breakouts can occur. As with any technical analysis pattern, it's advisable to use it in conjunction with other indicators and analysis methods to increase the accuracy of your trading decisions. Note for everyone who came across this reference: This chart analysis is only for reference purpose. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:BANDHANBNK
by hardeepssethi
Chalet hotes IHNS breakoutChalet hotels has given an inverted head and shoulders breakout. Currently, stock is consolidating above the neckline. A retest of 400-405 levels can give a good indication that the breakout is genuine and one can expect at least 100 points move which is the length of right shoulder. Long term targets can be 250+ points which is the length of the head. SL is deep around 30 points at 375 levels. Note:- Idea is shared only for educational purpose and should not be considered as a recommendation.
NSE:CHALETLong
by chartistamey
East india hotel-Beautiful IVHS patternEIHOTEL has beautifully formed an inverted head and shoulder pattern in weekly TF with neckline being an important supply zone of 200-210. The stock has given a weekly closing above this zone and is looking ready for a breakout. It can be added on dips upto 195 with a SL of weekly closing below 184. ATH level of 227 might prove as a minor resistance before a bigger upmove. Keep this stock on watchlist as hospitality stocks like ITC, Chalet hotels, Indian hotels have already started the uptrend. Please note that idea is shared only for educational purposes and should not be taken as a recommendation!
NSE:EIHOTELLong
by chartistamey
Long Westlife DevelopmentA Bullish Flag and Pole Chart Pattern Breakout happened on the weekly Time frame of NSE:WESTLIFE Price Action is well supported by the volume. The stock is currently in uptrend making higher highs and higher lows. One can add this stock into their stocks to buy list. Initiate the long trade only according to the levels mentioned. Stop loss will be on weekly closing basis. Trend Analysis :- UP Trend Chart Pattern :- Bullish Flag and Pole Technical Indicator :- Positive MACD Crossover
NSE:WESTLIFELong
by raigvivek
TATASTEEL - Add to WatchlistTata Steel Limited is an Indian multinational steel-making company, based in Jamshedpur, Jharkhand and headquartered in Mumbai, Maharashtra. It is a part of the Tata Group. TATA Steel Limited is a diversified steel producer, engaged in the business of steel making, including raw material and finishing operations. TTM EPS: 1.33 TTM PE: 98.05 P/B: 1.55 Mkt Cap (Rs. Cr.): 159,368 Dividend Yield: 2.76 Sector PE: 18.38 Book Value Per Share: 84.35 Some Positives: Strong Momentum: Price above short, medium and long term moving averages Near 52 Week High Some Negatives: MFs decreased their shareholding last quarter Degrowth in Revenue and Profit Decline in Net Profit with falling Profit Margin (QoQ) Decline in Quarterly Net Profit with falling Profit Margin (YoY) Low Piotroski Score : Companies with weak financials Declining Net Cash Flow : Companies not able to generate net cash Major fall in TTM Net Profit Fall in Quarterly Revenue and Net Profit (YoY) Recent Results: Declining Operating Profit Margin and Net Profits (YoY) My Opinion: I am positive on Metal stocks in the coming months. Add TATASTEEL to your watchlist. NOT A RECOMMENDATION. JUST FOR EDUCATION PURPOSE. Thanks
NSE:TATASTEEL
by babutaaniket