Head and Shoulders pattern is seen BankNifty in 1 hour time frame
If BankNifty breaks the level of 42900 short position can be initiated and levels of 42700-42500 can be seen
**Disclaimer: not an investment advice only for education and learning purpose**
This stock has been falling in a downward channel from last many months .
Stock fell in a downward channel and in the process lost 50 % of its value.
Chart suggests that price has come out of the downward channel with
higher high double bottom formation & this has lead to the formation of
Inverted Head & Shoulder Pattern.
With good results this stock can aim...
After a good consolidation period the stock is ready to give breakout. one can start accumulation. Also entire IT sector is starting to move which can lead not only pump in IT stocks but also a good moment can be expected.
Chart is self explanatory. Levels of breakdown, possible down-moves (where stock may find support) and resistances (close above which, setup...
Call me an obsessed analyst but, I simply love Head & Shoulder pattern. They come in my dreams as well. :D Either way, I spotted this pattern in hourly time frame in JSW Steel chart. This one is not entirely bookish but, what is this life is bookish anyway? Let's see if this madness has a reason worth being mad for!
Best of luck.....
One can also enter one head and shoulder pattern is active
Chart is self explanatory. Levels of breakdown, possible down-moves (where stock may find support) and resistances (close above which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am...
Coal India is formed head and shoulder pattern we will watch this stock if successfully breakout we can take this intraday trade but breakout and retest is important you can add your watchlist if not breakout avoid this stock
Do your own research
IGL, 425, making inverse head and shoulders pattern where breakout will be above 440 closing. apart from H&S, cup and handle is also there. Target will be 475 to 490 range.
invalid below 410 when trade is active
Price has broken out of Head & Shoulder pattern with effective volumes.
SL can be kept 8% below at 2000 levels and go for the kill.
Note the price has broken the resistance after 6 unsuccessful attempts so this breakout is meaning full.
Reasons for Short as follows:
1) Classic Head & Shoulder Breakdown Pattern
2) Price trading near 52 Week Low Zone
3) IT Sector is the Weakest and Leading the Bear Market
4) Global Recession means Slowdown in Revenue for these IT Companies
Stop Loss above 1420
T1= 1320/ 1300
T2= 1250 ish zone
INFY 75m chart has completed head and shoulders pattern and has given a breakout today with above average volume. The price action is bullish and we can look for long opportunities on Thursday when the market opens after a day off. Any retracement to breakout zone of 1415 can be a good opportunity to go long with targets of 1445/1470/1495.