The pair has plunged after the Australian CPI data.
Now, it has formed an inverse head and shoulder pattern in the 15-min chart.
Also, the RSI indicator has backed up the bullish reversal formation with an inverse head and shoulder pattern of its own.
Hence, we expect the pair to pullback from the lows to the resistance of 78.870.
After a downhill move, EUR/USD has formed an inverse head and shoulder pattern.
It has broken the neckline too and is currently consolidating just above it.
Hence we expect the pair to turn bullish and move to the resistance levels at 1.12871 and 1.13237.
Infy took 8 months to complete the Cup and Handle Formation. If you observe closely, it has formed intermediate Head and Shoulders especially in the Handle portion.
Positive indications :-
- Closed above the resistance - 760 levels.
- RSI and MACD showing good strength.
- Long buildups observed in this counter regularly
Dear All Members at TradingView ,
Jindal Steel seems good for 220+ in Medium Term !
Entry : Above 183 Rs.
Targets : 187-193-205-220+ Rs.
Stop-Loss : 163 Rs.Or 169 Rs. on Closing Basis
Hope You will like My Idea ; Hit Like Button for Supporting & Comment your view in Comments Section .
Disclosure : I am not A SEBI Registered Technical Analyst !
India cement Bounced nicely today from 89 area. Which was the bottom of left shoulder too.
A Retest to 89 area is possible and stock may form right shoulder in this week.
Short term target is 99 which happens to be the neck line and if The Setup play out, Target is 115+.
Watch out for the Inverse Head & shoulder pattern which indicates the bottom for India Cement.