HAL has formed a complex Inverse Head & Shoulder Pattern on the Daily charts and has given a breakout with good volumes.
A "complex inverse head and shoulders" pattern is a variation of the inverse head and shoulders pattern, which indicates a potential bullish reversal after a downtrend. Unlike the standard inverse head and shoulders, complex patterns include multiple left or right shoulders or heads, making them more intricate. These patterns still signal a potential trend reversal, but the added complexity means the trend reversal is taking longer to fully develop.
Given the backdrop of INDO-PAK tensions there is a sectoral tailwind in all the defence stocks. This bullish momentum is likely to continue . The target price of this pattern indicates an upside potential of 30%.
The momentum indicators like RSI also indicate bullish momentum
CMP- 4725
TARGET - 6150 (30%)
SL - 4460
Disclaimer: This is not a buy/sell recommendation. For educational purpose only. Kindly consult your financial advisor before entering a trade.
A "complex inverse head and shoulders" pattern is a variation of the inverse head and shoulders pattern, which indicates a potential bullish reversal after a downtrend. Unlike the standard inverse head and shoulders, complex patterns include multiple left or right shoulders or heads, making them more intricate. These patterns still signal a potential trend reversal, but the added complexity means the trend reversal is taking longer to fully develop.
Given the backdrop of INDO-PAK tensions there is a sectoral tailwind in all the defence stocks. This bullish momentum is likely to continue . The target price of this pattern indicates an upside potential of 30%.
The momentum indicators like RSI also indicate bullish momentum
CMP- 4725
TARGET - 6150 (30%)
SL - 4460
Disclaimer: This is not a buy/sell recommendation. For educational purpose only. Kindly consult your financial advisor before entering a trade.
עסקה פעילה
Magic of the patterns, performing as expected. Keep Rocking!!!
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.