Potential Head and Shoulders Pattern
Updated
A potential H&S Top pattern in Kotak Bank with neckline at 1630. Pattern target is at 1190.
Elliot Wave wise, Wave B (a triangle) seems near completion and Wave C which will be a five-wave decline is possibly next. Minimum expectation of Wave C is to be equal to Wave A which is at around 1490.
A negative divergence with momentum is seen on daily and weekly charts.
Note- Not an investment advice,
Elliot Wave wise, Wave B (a triangle) seems near completion and Wave C which will be a five-wave decline is possibly next. Minimum expectation of Wave C is to be equal to Wave A which is at around 1490.
A negative divergence with momentum is seen on daily and weekly charts.
Note- Not an investment advice,
Note
The stock has reached the lower trendline that can make it bounce around.Note
It has reached the neckline, partial/full exit can be done for now.
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