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Inverse Head and Shoulders

BHEL - Inverted Head & Shoulders + DivergenceAn Inverted Head and Shoulders pattern broke out and retested itself inside a bigger Inverted Head and Shoulders Pattern. The same move is expected on the bigger pattern as well. ***** Please support the effort & if you feel it deserving, do appreciate it with a Like and following me would only add on to the motivation. I believe in keeping the chart simple for easy interpretation. Kindly express any disagreement & improvements so that we learn & earn together. Always keep a stop loss to rescue you out of troubles and trail the stop loss as the price rises.
NSE:BHELLong
by CannySunny
17
SPARC: Stormy wave 3 ?After long term correction, stock has given a breakout of a long term downtrend line & restested as well. On observation we can find an inverse Head and Shoulder pattern. The prices has given a breakout above the neckline of the inverted H&S with strong volume on weekly chart. On the perspective of wave analysis, we can clearly count the up move from the bottoms to the necklines a full impulse 1-2-3-4-5 as wave- (i) and the right shoulder correction as a wave -(ii). The Breakout above the neckline (wave-(i) should be considered as the starting of the wave-(iii). One should buy the stock on current levels & add on dips till the neckline level. Maintaining a stop loss of 160 one should one should remain invested and look for the measured target for inverse H&S as 330 and wave-iii minimum target guideline as 345. holding these levels in future , stock will likely to move upwards for the targets of 450 area. INVESTMENT STRATEGY: Buy on cmp : add on dips, SL: 160 tgt: 330-345 /400/450
NSE:SPARCLong
by TradingSutra
33