It broke 2 YEAR OLD TRENDLINE & RETESTED DONE,
It, also broke INVERTED HEAD & SHOULDER NECK-LINE.
If Resistance Breaks, Then Next Possible Target Is 670 !
NOTE: THIS ANALYSIS BASED ON 1 WEEK TIME FRAME)
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Educational Purpose Only !
Note: This is for educational purpose only.
There seems to be an Inverse Head & Shoulder pattern breakout with good volume. Moreover, RSI above 65 indicates bullish momentum.
#BHARATFORG DAILY CHART VIEW!!
Bharat Forge Ltd.G has taken strong support at 61.8% Fibonacci pullback level 492.
RSI is 50+ & seems to have bottomed out
If the stock is able to sustain above 545, it may move towards the recent swing high of 567 & above.
Clean Inverse HEAD& SHPULDER IN DAILY CHART. Sharp Movement expected upwards. To be positioned in Equity Cash recommended for a view of 2 weeks to 3 months.
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Bharatforge is consolidating after forming inverted H&S
RSI is also above 60, which indicates a bullishness
CPR has became narrow, indicating trend ahead
RSI is above 60 on weekly scale too.
There is support at 530-540 on weekly scale.
on weekly scale, it has formed a rounding bottom in the last 3 months
it has given breakout on weekly scale too, sustaining above...
