BUY : 37 TO 35
TARGET : 55 TO 58
Reason For Buying This Script :
In this script after 4 years down trend line was broken & also it has retested in monthly time frame . It shows positive moment.
Don't miss this moment.
Note:
Above given levels are based on monthly & weekly time frame . So be patience it will take some days to achieve the target.
ALL...
Idea has given an inverted H&S PATTERN Breakout with volume , even rsi took and bounce back from it's indicating trend reversal . Looks good for short term target of 14 , have potential to move 18/22 in long term .
Not a financial advisor , ask your financial advisor and enter at your own risk.
Comment down your views.
Canara Bank has formed Inverse Head and Shoulder Pattern on the daily time frame.
Broken resistance on high volume candle
Now the resistance will act as support if the stock retest its resistance look for an opportunity to buy at 156-155
Buying at retest will enhance the Risk-Reward ratio
Target 184
SL 153 (50%)
SL 147 (50%)
Stock good for short term investments with wick rejection.
DISCLAIMER - Analyse by yourself before investing.
Do comment and suggest if corrections needed.
HAPPY TRADING.
KEY TAKEAWAYS
An inverse head and shoulders is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends
An inverse head and shoulders pattern, upon completion, signals a bull market
Investors typically enter into a long position when the price rises above the resistance of the...
A breakout of inverse Head & shoulder formation with neckline of 314 has been spotted. The pattern suggests a continuation of the previous HH & HL trend. One can buy the stock on cmp & add on dips with maintaining the SL of 300 and look for the target of 360 (measured tgt) later 380/410
It is an Inverse Head & Shoulder Formation.
On 18 may 2021, There is a Candle with a good volume breaking the Neckline of the Pattern. This is a positive sign or a confirmation for an Up move. Stock price is taking support of a Neckline. If stock shows some up move and when it breaks the nearest swing high (red candle next to the breakout candle) we can take...
