Inverse Head and Shoulders
YesBank (For Long term) Yesbank is in the process of forming a right shoulder of the famous Inverse Head and Shoulder Pattern. Risk Averse Investors can wait for the price to break the neckline as mentioned. SL would be the head.
bankniftyinverse head and shoulder pattern has formed beautifully in 5 min time frame but trading view is not allowing me to publish (publicly ) chart below 15 min. still you guys can manage here on 15 min time frame.
#NSE POSITIONALCALL BUY #GRASIM #NSE #POSITIONALCALL #BUY #GRASIM ABOVE 803 STOPLOSS BELOW 710 TARGET 849,875,910
AMARAJABATTERI trade setup using patterns and price actionamararaja battery can givea good trade opportunity thus should be kept in WATCHLIST for next week
AUD/JPY Technical analysisThe 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.
Inverse Head-SShoulders FormationAn inverse HS Formation completed in BWA. After the break of the neckline the target could be round the area 51$. Stop loss 40.5$
EUR/USD Technical analysisAfter 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.
Long Federal BankThe stock has formed an inverse head and shoulder pattern. One can think of going long the risk reward ratio is also good. The stock is consolidating so one can think of going long post a breakout.
Breaking out - Cup & Handle | Inverse H&SChart pattern:-
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
Conclusion:-
An increase in volumes is needed for the breakout. If sustains above the current level it can give a good rally up to the 900 levels in coming months.
However, tread with caution as price is sliding on to the upper end of the bollinger band which may cause a minor dip before the rally. 730-740 could be the lower levels to watch out for.
This is a just beginner’s analysis. Please feel free to share your thoughts regarding this. Thanks for reading!
