NSE:SREINFRA It is trading in a falling wedge pattern and about to breakout upwards.
A valid Inverse Head & shoulders pattern has been formed and also the last two candles form Bullish Engulfing pattern.
Confluence of all these factors suggest for long positions .
Longs may be taken at current levels with tight stoploss below 100 or once it breaks the trendline...
Clearly formed inverse Head & Shoulder pattern is suggesting a long entry. Being a defensive Trader, I would wait for a retest on Neckline which means possibility of missing the trade also as it does not happen always therefore other trader can buy at appropriate level depending upon their risk appetite.
Inverse head and shoulders pattern is in formation on the daily chart. Target prices are 280, 288 and above in short term. Buying on dips can be more profitable.
It is been observed on the Daily Chart that the price action forming an inverse bullish Head-N-Shoulder pattern indicating a bullish move ahead. It shall perform well once the price action breaks above 500 levels to confirm a breakout of the pattern trendline .
Target: 520
Stoploss: 474
*Kindly note that the trade shall be active once the price action breaks...
Nicely formed Inverse Head & Shoulder pattern is ready to give breakout. Posting in advance as market seems to have gap up opening and mates can take advantage of it. Those who are following my Action/Reaction learning series can also notice marked AR Set which catches the reversal perfectly.
