SCI: Inverted H&S continuationPrices formed an inverted head and shoulder and given a breakout of the neckline at 281 whose measured target is coming in the region of 566. Prices have the potential to give 100% returns from CMP.
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Shipping Corporation of India - Forming Bullish Head & Shoulder📈 Chart Analysis: On the weekly chart, Shipping Corporation of India (SCI) is showing signs of forming a "Bullish inverted head and shoulders pattern" , which is typically a reversal structure that signals the resumption of an uptrend. The neckline resistance is placed near ₹245–₹250 levels, and a decisive breakout above this zone could unlock strong upside momentum.
📊 Trend & Support: The stock is trading along an established uptrend line, which acts as a "Dynamic Support Level" . This trendline has been respected multiple times, reinforcing its validity. As long as the price sustains above this trendline, the bullish structure remains intact.
🔎 Momentum Indicators: RSI (Weekly) is currently around 56, showing neutral-to-positive momentum with room for further upside. Volumes have shown accumulation on upward moves, suggesting buying interest on rallies.
⚠️ Disclaimer:
This is a technical projection, not an investment recommendation. Any trading strategy should be established based on risk appetite, confirmation signals, and individual financial goals.
✍️ Prepared by: SEBI Certified Research Analyst (Not Registered)
Shipping Corporation of India - Value Buying and Bullish trendShipping Corporation of India had retraced almost 61.8 % from highs near the lows, after a period of accumulation where there were continous responsive buyers at lows. The price started moving up.
Volumes : Volumes can be confirmed with the circles plotted on chart.
Retest : The retest of price happened highlighted by the rectangle.
Initiative Buyer : we can see big volumes coming after the retest happened and price started moving above POC - Point of control of current range. This suggest a strong support zone below even if the price retraces a bit eventual trend is up.
From the previous point of controls and value area highs we can set targets for upcoming upmoves :
Targets :
1)210
2)235
3)290
4)350
There should be strong support around Point of control and value area low of current range, in case of SL hunting of weak hands.
Still shows a relatively low risk opportunity with potential for high reward.
PS : Post is educational in nature and doesn't constitute any financial or buy sell advice. Do your own research. The publication is made with the intention to explain the concepts of RSI Hybrid Profile.
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SCI Trading Within Tested Demand ZoneSCI is trading at ₹204.45, within its tested demand zone of ₹208.45 to ₹202.05, established on 30th October 2024. As the zone has been tested, it suggests prior buying interest in this range. Investors may look for potential bullish signals or confirm further price stability before acting.
Disclaimer: This analysis is for informational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making any investment or trading decisions.
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Shipping Corp of India SCI - Short term one can look for short term positional trade in SCI, the candle stick pattern look like mother & baby candles, where all the smaller red/green candles are within the Mother (green big candle) with very narrow range movement, the volumes of Mother candle are exceptional & that of the baby candle are very low, making it an ideal pattern...one can enter on BO above mother candles high or at CMP with a SL of Mother Green candle low. Disc : Invested for medium term from lower level, not a reco for Buy or sell but for study purpose. DYOR.
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