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Inverse Head and Shoulders

Multiple Reversal patterns in Nifty IT !!!As visible on charts CNXIT has given a breakout from multiple reversal patterns which are Island Reversal, Double Bottom, Inverse Head & Shoulder. CNXIT has formed double bottom around 26450 along with RSI divergence and finally given its breakout at 28600. The index fell with a gap and also reversed with a gap hence, leaving behind an island and showing an island reversal pattern. Along, with above two patterns, inverse head & shoulder are also visible which further conforms to a reversal in the IT sector.
NSE:CNXITLong
by Chaser30
10
BEML: Inverse Head and Shoulder BreakoutInverse Head and Shoulders This pattern forms after an extensive downside rally. It consists of a left shoulder, a head, and a right shoulder. The left shoulder is formed after a big bear rally in which the volumes are quite large. At the end of the left shoulder, a minor correction takes place on the upside which happens on the low volumes comparatively the starting of the left shoulder. After this again a down move can be seen on large volumes forming a head having its bottom is below the left shoulder following an upmove correction on lower volumes & completing the head. The completion of the head must be above the top of the left shoulder. If the prices rise above the top of the left shoulder then too this pattern remains intact. In the end, the right shoulder is formed usually on smaller volumes comparatively the previous two rallies. Now if you connect the tops of the left shoulder, head & the right shoulder there will be a formation of the ‘Neckline‘. This line will act as a decision line. If the prices break this neckline & give closing above the line, this will be the confirmation of the breakout of the Inverse head and shoulders pattern. However, it has been noticed that after breaking of the neckline the prices again attracted towards this neckline. We say this phenomenon as a retest of the neckline which will add some more confidence while trading this pattern. After retesting if the prices again start rising, this will be the final confirmation of the up move as shown above. The bookish target of this pattern is taken as the vertical price range from the bottom of the head to the neckline & the bookish Stop loss should be the bottom of the right shoulder. However this stop loss can be big, so it is advised to keep a stop loss of 4-5% of the price range below the neckline. TRADING STRATEGY: Buy near 1410-15 zone with SL of 1240 and look for the target of 1680-1700 zone.
NSE:BEMLLong
by TradingSutra
4
Dual breakout in Banknifty !!!!As, chart says banknifty have given breakout above 200DEMA where, it has faced resistance 3 times earlier. RSI above 60 indicating strength in breakout and confirms it's reliability. Also, breakout from inverted head & shoulder pattern is visible. Minimum target of this pattern comes to 36150 but it can move above this also. I'll try to publish an elaborate idea on banknifty as it's PE stands on 17.71 below 1,3,5yrs average and has strong buying interest at 15.54.
NSE:BANKNIFTY1!Long
by Chaser30
2
NIFTY UPCOMING JOURNEY PREDICTION 20-07-22DRAWINGS IN THE CHART Showing NIFTY CURRENT PICTURE, the Head and Shoulder Pattern. NIFTY BIG PICTURE drawing is not shown, but dates are mentioned, so you can visualise or draw on your charts as per the dates and levels mentioned. NIFTY BIG PICTURE Since 05.05.2022, Nifty is in the process of forming Inverted Head and Shoulder pattern in the hourly chart. From 05.05.2022 to 03-06-2022, formation of Left Shoulder with its peak placed at 15750. Its Neckline has been placed at 16800. This level has acted as a support for Nifty in the past. The current uptrend in Nifty (from 17.06.2022) may push it to 16800, which will complete the Head of the pattern, its Head being placed at 15200. NIFTY CURRENT PICTURE Again, price action suggests that Nifty might be in the process of making a Head & Shoulder pattern from 20.07.2022. Currently it is forming the Left Shoulder with its peak placed at 16588. Its Neckline might be at 16400. This level has acted as a crucial support for Nifty in the past, thus this level being a natural choice for the Neckline. After touching 16400(Neckline), Nifty might continue its upward journey upto 16800. This will form the peak of the Head of the pattern, and complete the Head of Inverted H&S pattern. Again, keeping the big picture of Nifty in mind(i.e. Inverted Head & Shoulder pattern), after touching 16800, Nifty may retrace back to the levels of 15900 to 16000. There is a high possibility that the price of Nifty might reverse from here. This level may indicate the peak of the Right Shoulder, again, if and only if, the big picture of Nifty is bullish. If not, then price might go down from here. N.B: 15750 will act as the last defence for the upward journey of Nifty if it breaks 15900, failing which the larger trend of Nifty will become bearish. In either case, Nifty might go down from 16800. Investment Strategy Long: 16400-16800 Short: 16800-16000 Option type: Monthly Option Call & Put. Happy Trading. We are not responsible for any profit or loss Based on Your Own Risk this is only to Show you the Current Pattern
NSE:NIFTYLong
by kuntaldewan23
1
Maruti The Reason of going up NSE: MARUTI Time Frame :- 1 Month Patterns Name :- Inverse Head and Shoulders Conclusion :- A Inverse Head and Shoulders pattern which is a Bullish Pattern and a signal before the Uptrend which most probably shows up a down trend . We are not responsible for any profit or loss Based on Your Own Risk this is only to Show you the Current Pattern Comment Below If You want to ask me questions on this on any other idea BTW Like and Follow if you like this awesome content Made By MAYANKTECHRESEARCHING
NSE:MARUTILong
by MAYANKTECHRESEARCHING
Maruti but there is a double game NSE: MARUTI If Breaks Then The Targets could be Taken at 8973 Time Frame :- 1 Day Patterns Name :- Inverse Head and shoulder We are not responsible for any profit or loss Based on Your Own Risk this is only to Show you the Current Pattern Comment Below If You want to ask me questions on this on any other idea BTW Like and Follow if you like this awesome content Made By MAYANKTECHRESEARCHING if you got the answer then tell me or wait for next idea at maruti
NSE:MARUTILong
by MAYANKTECHRESEARCHING