Head above the shoulder
Sometimes simple things work wonders, and one my favourite pattern is HnS, Head and Shoudlers.
Look we have one here, though neckline is yet to break.
We have stronger bigger frames, and this one is much smaller frame.
Yesterday price action of rise from lows, despite higher inflation than factored, augurs well for the neckline break.
Also, the gap down of 5th July lead fall is in for closing up.
Not much, truncated holiday is the only hurdle.
Will there be a break of the neckline then a retracement or one way up is to be seen, with the holiday in mind one can take chances of that retracement.
Support 52400-52300(max stop for the longs)-54130
Supply 52680-52800-53100
Look we have one here, though neckline is yet to break.
We have stronger bigger frames, and this one is much smaller frame.
Yesterday price action of rise from lows, despite higher inflation than factored, augurs well for the neckline break.
Also, the gap down of 5th July lead fall is in for closing up.
Not much, truncated holiday is the only hurdle.
Will there be a break of the neckline then a retracement or one way up is to be seen, with the holiday in mind one can take chances of that retracement.
Support 52400-52300(max stop for the longs)-54130
Supply 52680-52800-53100
TA Primer ping me on +96895753093 +918106170817 details @sribhashyam65 twitter handle
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