East india hotel-Beautiful IVHS patternEIHOTEL has beautifully formed an inverted head and shoulder pattern in weekly TF with neckline being an important supply zone of 200-210.
The stock has given a weekly closing above this zone and is looking ready for a breakout. It can be added on dips upto 195 with a SL of weekly closing below 184.
ATH level of 227 might prove as a minor resistance before a bigger upmove.
Keep this stock on watchlist as hospitality stocks like ITC, Chalet hotels, Indian hotels have already started the uptrend.
Please note that idea is shared only for educational purposes and should not be taken as a recommendation!
