The chart is showing clearly made "Head & Shoulder" reversal pattern and trading below the neckline. One can use it and short the stock at current level for the target of 116/111.5. RSI is also below 50 confirming the shorting decision. It offers a good Risk to Reward Ratio.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for...
On 30 minute chart, inverted Head & Shoulders pattern is forming.
If neckline breakout happens successfully then PFC can see 113.45 and then after 116.5.
Stop-loss can be the right shoulder's low i.e. 107.40 with a small buffer.
Note:- This is a conditional Buy or Long position on inverted Head & Shoulders neckline breakout.