Trade set-up_OFSS can give a breakout and rally 10% thereafter!
The stock has been attempting to move beyond the INR4200 mark since September 2023 but its every attempt in past was met with some strong supply around the 4200-4250 zone preventing it from moving beyond.
In this ongoing tussle between the buyers and sellers in the past three months the stock made at least 3 attempts to breakout above 4200 and the very same 3 attempts of the stocks are now clearly visible on the chart as an "Inverted Head &shoulders" pattern.
The neckline of the pattern stands at the same old supply zone of 4200-4250.
On decisive close above the 4200 mark and also upon breaking out from the inverted H&S pattern the stock can rally nearly 10% towards the INR 4600 region.
CMP - 4166
SL - 4078(2.4%)
TARGET - 4600(10%)
RR - 1:4
In this ongoing tussle between the buyers and sellers in the past three months the stock made at least 3 attempts to breakout above 4200 and the very same 3 attempts of the stocks are now clearly visible on the chart as an "Inverted Head &shoulders" pattern.
The neckline of the pattern stands at the same old supply zone of 4200-4250.
On decisive close above the 4200 mark and also upon breaking out from the inverted H&S pattern the stock can rally nearly 10% towards the INR 4600 region.
CMP - 4166
SL - 4078(2.4%)
TARGET - 4600(10%)
RR - 1:4
Note
breakout was successful..vol went up on breakoutNote
SL trailed to Entry price
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.