Inverse Head & Shoulder Pattern FormationThe stock is forming Inverse Head & Shoulder Patter . Aggressive Trader can take a long now at the strength bar of right Shoulder area with stop loss of recent low. Safe trader can wait for the breakout. I would update the breakout.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
Chennai Petroleum Corporation Limited
No trades
Trade ideas
My PredictiveEngine's Intraday call(18-Apr) - CHENNPETRO - ShortBased on my PredictiveSystem's signals, today(18-Apr) its going to be a RED candle for NSE:CHENNPETRO
Sell below: 336.5
Target-1: 334
Target-2: 332
Target-3: 331
Stop loss: 339.4
Note: These calls are based on my own analysis. It may or may not work well for you. So please carefully consider whether it is suitable for you and please do your own research before attempting any. The profit/loss made by you due to this call, is solely your own responsibility. Thanks, All the best. Happy Trading. :-)
* Divergence at Potential Reversal Zone *Moving in a parallel Channel, the prices are showing divergence. Incidentally prices are also in a Reversal Zone based on M_PL. It seems that stock is getting ready for an up move. Buy on closing above 348 with Stop loss of recent low or as per your risk taking capacity.
Disclaimer : All stock recommendations and comments are my personnel view. please take financial consultancy for trading decision.
Inverted head and shoulder formationThis setup is a short term scalp. The stock has formed an inverted head and shoulder pattern at the support zone. Hence we shall see this opportunity as a short term pullback move till 570.
Entry - Go long above 349 or enter when it pullbacks to 344 area.
SL - 338
T1 - 355
T2 - 360
For educational purpose.
Thanks.
CHENNPETRO: Reversal Opportunity.All mentioned & plotted on Chart.
Intraday UP levels: @ 379.2 - 380.90 - 383.85 - 385.90 - 387.10 (Used as TARGET)
Intraday DN levels: @ 373.55, 371.70, 368.85, 366.8, 365.60 (Used for Accumulation)
(Calculation Based on Last Closing Price: @ 376.35)
Trade as per Specified Levels.
My personal View. If matched, Like & Share
As i am not SEBI regd. analyst, take this study as educational purpose.
For taking trade decision Consult with financial Advisor.
a bearish AB=CD short idea chennai petroa bearish ab=cd harmonic pattern has been formed
a short idea can be initated at entry price of 442.85 with first target of 426.85 fib retracement of .382 and 2nd target of 409.85 fib retracement of .618
a option idea can also be taken by selling 480ce at 10.10 and 400pe at 5.30






















