1. Price took support at the 800-830 range for 5 times.
2. Formed Inverse H&S Pattern at support.
3. Breakout & retest of Inv H&S completed.
Entry: 965-970
Target : 1066
SL : below 930 (Closing basis)
Bounced back from strong support levels. Made Inverse Head and Shoulder (reversal) Pattern near support. Breakout with good volumes. Retest done. Taking support from 50 day moving average. May touch 200 &100 SMA around 1000. Looks good for a short term swing trade. Any strong close above 200 SMA may lead towards 1100 levels. An your trade accordingly.
Position Long above 110
• Stock has made new yearly high
• Stock is in formation of Inverse Head and Shoulder pattern on weekly chart and has breached above 110
If stock manages to close above 110 on weekly basis, one can initiate long strictly above 110 levels for the target of 160+ levels with stop of 87 on closing basis.
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inverted head and shoulders pattern
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Disclosure : I am not SEBI registered. The information provided here is for Education Purposes only. Consult your financial advisor before taking any decisions
Biocon has given breakout of Inverted head and shoulder pattern. VWMACD is also indicating starting of upmove. Immediate resistance trend line is placed at about 395, once it close above it , it can give good upmove. Rest is detailed at chart
Disclaimer : This is for education purpose only.
A probable Inv H&S pattern can be seen on the Daily Chart of Hero Motor Corp
Breakout is still awaited.
One can look to Buy only upon a valid breakout above the Trendline.
Levels are explained in charts with Entry, Target & Stop Loss.
Disclaimer: This study is for educational purpose only & is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
1. Inverse Head & shoulder pattern formed. (Possible BO from here)
2. Price also formed symmetric triangle (BO & retest completed) within the H&S pattern.
3. Entry suggested after proper breakout.
Targets as per previous swing highs:
Target 1 : 133
Target 2 : 157
Target as per Inverse H&S Pattern: 177
SL : Low of Right shoulder
PSUBANK index has formed a Inv H&S on Monthly chart and gave breakout followed by consolidation.
Now it is placed Just Below trendline.
RSI is just below previous swing highs. breakout in RSI is likely.
Inverse head and shoulder formation gives a confirmation that price has reversed well from lower end of the parallel channel and ready to move up. middle resistance zone has be bo and retested as well.
#marutisuzuki bank potential weekly inverted H&S breakout
This auto sector major potentially is breaking out of a inverted head and shoulder patter on weekly charts
The sector is one among strongest in the market as of now.
The momentum also is bullish on all timeframes alone with and ADX trend indication of rising strength.
The current multi year resistance from...
![BIOCON: BIOCON [inverted head and shoulders pattern]](https://s3.tradingview.com/m/mX9YcGe5_mid.png "BIOCON [inverted head and shoulders pattern]")
