Maruti Inverse H&S in Daily Chart
Inverse H&S formation in daily chart, neck-line at 5,600 levels, targets of 5850, 6080 & 6,450 stop below 4,880; pattern target is 6,800; RR 1.66.
RSI divergence (Bullish) is observed in daily charts, currently RSI is neutral but is likely to move into bullish territory if price sustains and moves up from current levels.
Alternately as stock is NR7 + IB in daily chart (23.04.2020) close entry may be considered above 5,250 with stop below 4,880; RR 3.25.
BOF of short trade is most ideal.
RSI divergence (Bullish) is observed in daily charts, currently RSI is neutral but is likely to move into bullish territory if price sustains and moves up from current levels.
Alternately as stock is NR7 + IB in daily chart (23.04.2020) close entry may be considered above 5,250 with stop below 4,880; RR 3.25.
BOF of short trade is most ideal.
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