POSITIONAL LONG IN BANKBARODA
VIEW
-EARLY I HAVE MENTIONED IN MY OTHER POST THAT PSU ARE IN DEMAND
-STOCK IS BREAKING OUT OF ROUNDING BOTTOM AND INVERTED HEAD AND SHOULDER PATTERN
-FIRST IT WILL FIND RESISTANCE AT 200-DMA
-IF BREAKS WE ADD MORE
-IF FAILS WE BUY ON PULLACK TO 102-14 LEVELS FOR BIGGER TARGET
TRADE VIEW
DEC...
USDJPY has formed a classic inverted head and shoulder pattern on a daily basis. The prices are trading very close to the neckline and we might see a breakout soon. furthermore, the weekly chart has formed a bullish engulfing pattern as well that supports the bullish argument. Like always, the price can take two paths, the first one is highlighted by the blue...
The price movement of the pair is forming an inverted head and shoulder pattern with the second shoulder in the midst of formation. We can enter a buy position from the current level with stop loss at the crest of the shoulder at 107.868 till the first target at 109.493 which is also the neckline. After the prices breach the neckline, TP 2 and Tp 3 will activate....
EURCAD is trading close to the neckline of the head and shoulder pattern on the 4H chart. As soon as we get a single 4h close above the neckline, we enter a buy trade with stop loss at 1.45501 which is the approx depth of the shoulder. The up move in the pair is also supported by the daily candlestick pattern that formed a bullish engulfing pattern two days back....
USDJPY registered a breakout from the neckline of the inverted head and shoulder pattern on 4h chart. The prices are already close to achieving the first target of 107.274. A hold above this level, next target will be at 108.014. On the other hand, 106.497 and 106.115 are the support levels. Either of which can be the stop loss for the trade. So choose depending...
Inverted Head & Shoulder pattern observed in Maruti. Pattern is confirmed as price has broken above 6045. Pattern suggests a target of 6190.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and...
PNB had given breakout from the inverted H&S with high volumes. Target of the breakout was 112 but counter retraced from 100 and again cam back to 87 level. Counter should take support around 84 which is 38.2% retracement of entire rally from 58 to 100. After 84 , next support comes at 80-81 range which is also a support of neckline. As counter drifted down from...
Chart 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...
Long Hindunilvr above 1713
Stop-loss Below 1692.50
Target 1795 ( Target Set as 1: 4 RR )
Other confluence.
1) Price Stopped at 50% Re. of Previous Swing.
2) ABC Correction - zig zag - Price Stopped at 1.272 Extension of Wave C
3) Inverted Head & Shoulder in Lower Time Frame of...
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