One more example of Inverted head and shoulders pattern which is change in the trend . Neckline is already broken and one can pick this stock and keep stop loss below neckline
An Inverted HNS on display.
Awaiting a Breakout.
Above 129 , very likely the price would start trending upwards and
Above 150, the pace would most probably pick up.
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I believe in keeping the chart simple with minimal drawings & easy to interpret.
Always keep a stop loss to rescue you out of troubles.
So kindly express any disagreement...
This analysis is purely based on price action and Chart Patterns.
The analysis is on 15min TF hence target can be achieved in intraday trade or in couple of days
Trade logic with SL and Target is explained in image itself.
Entry can be made on first sign of reversal from the retest-level
Don't chase the price.
Always plan your trade & trade your plan
Keep...
Hi Everyone,
Here is an update on Rain Industries which is looking like a very good technical setup. Please see below key points from the Technical set up
1. The current trend noted is the Ascending Triangle
2. In Ascending Triangle, prices eventually break through the old highs and are propelled even higher as new buying comes in
3. You may already notice...
Rain Inds - Loooks like a Possible Stage 2 of Stain Weinstein 30 WK Cup N Handle B/o. Let us see. References marked for break outs.
Disc. - I am posting chart for my own study purpose. Not registered with SEBI. Do your own research and consult SEBI registered advisor.
Rain Industries CMP – 99.20
Looking bullish . One can go for Intraday / Swing trade with the following entry, exit & targets
Buy range 99 - 100 / Stop Loss 94
Target 1 - 105
Target 2 - 108
Target 3 – 110 / 112.50
Note: This is my view and for educational purpose only
