Inverse Head and Shoulder breakout. Go Long
Price trading at a very crucial zone. A fall below the marked demand zone would open up shorting opportunity. Long can be initiated here if demand zone is respected. Whichever side trade is presented SL is very near and hence good RR ratio. My bias is currently long as a lot of factors support it. But market is supreme and one shall trade when trade is...
Inverse head and shoulder is in formation in HDFC life. Right head is under formation.
bank nifty has formed bullish divergence on hourly chart.
Let's see if it completes the ascending triangle in the hourly time frame. Will short when the pattern breaks. The first target is 50% retracement of the symmetrical triangle. The final target is 100% retracement.