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Head and Shoulders

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
LONG ARTEMIS MEDICAREA Bullish Flag and Pole Chart Pattern Breakout happened on the weekly Time frame of NSE:ARTEMISMED 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:ARTEMISMEDLong
by raigvivek
Delhivery can deliver profits to your portfolio!My observation is that the new age startup stocks have rallied in the past few days, eg. Nykaa, Paytm, Zomato. Now, it might be time of Delhivery stock to breakout and rally. The stock has formed a clear inverted head and shoulder pattern with 380 as its neckline. 403 is a minor resistance after which the stock can rally uptil 450-460. If the stock retraces towards 365, it can be a good buy in dip since the SL is deep below 345. Note:-Idea is shared for educational purposes and should not be taken as a recommendation.
NSE:DELHIVERYLong
by chartistamey
IRCTC Analysis (Head and Shoulders)! NSE:IRCTC ANALYSIS! IRCTC Analysis on a daily Timeframe! Descending Triangle Pattern Formation, Breakout and Retesting on a Weekly Timeframe! Inverted Head and Shoulder Pattern Formation, Breakout and Retesting on a Daily Timeframe! Bullish RSI Divergence in IRCTC! Trend Reversal in IRCTC! IRCTC has made Descending Triangle Pattern on weekly Timeframe , and it has given a breakout to its resistance trendline and retested its support level. If we reduce timeframe to Daily timeframe, then we can see the clear INVERTED HEAD AND SHOULDERS PATTERN at the bottom. We can see previous trend is Downtrend. If we combine RSI analysis with it, then we can see a Bullish RSI Divergence. After the bullish divergence the trend has been changed from Downtrend to an Uptrend. After that RSI and Price both are trending Upwards. This is a clear indication of the bullishness. I have extended neckline and support trendline both may act as a Support Trendlines. Rest of all Analysis is on the chart itself and I have marked all the important levels with price do study thoroughly. Thank You! Important Note= Please have a look on my previous IRCTC Analysis which is based on Weekly Analysis. Entry = Current levels are considered to be a good buy. Stop Loss = Below 615.50 Targets = 1) 661.50 2) 66490 3) 711.55 Disclaimer = All my analysis is for Educational Purpose only. Before entering into any trade - 1) Educate Yourself 2) Do your own research and analysis 3) Define your Risk to Reward ratio 4) Don't trade with full capital
NSE:IRCTCLong
by Avinash9087
2
Banknifty ( only for minimum 250-300 points target)Banknifty. (Only for Experienced traders" ) Enter after " Breakout and Retracement ". . . For " long " entry: 44575 / 45025 target: 45030 - 45250 - 45760 stoploss: 44430 . . For " Short" entry: 44430 target: 44250, 44030 stoploss: 44580 . Enter only if market Breaks "Yellow box" mentioned. . Wait for proper reversal and conformation. . Don't make complicated trade set-up.📈📉 Keep it " Simple, Focus on Consistency "💹. Refer our old ideas for accuracy rate🧑‍💻. Valuable comments are welcomed-✌️ . . [ i]Disclaimer: Our Trading style is not to capture "10-20" points per trade.📊 We take entry only for min "200-300" points without any distractions.💹 So, our ideas may not be preferable for small traders, who just focusing on too much of support and resistance.📈📉📈 So, please consider others ideas. This is for educational purposes.🧑‍💻
NSE:BANKNIFTY
by TheNuraTrading