Inverse H&S in Tata Communications
Hi,
Tata communications has been consolidating above 850 levels for almost 3 years now. The script has shown good accumulation in range of 850-1500. On charts you can see Inverse Head & Shoulders formation which is a bullish pattern. First target will be the length of height of the head till neck line. Add this length height post breakout near 1375 levels, which comes around 2000 which is 40% upside. Till this script is above 1100 levels this can possibly reach 2000 first.
The targets can be revised once 2000 levels are achieved based on the momentum.
Expecting the momentum to gain in this script in coming days .
If you like this analysis and you think it will be useful to learn for others , then do follow me on Tradingview and show like the idea :)
Note: As we have strict guidelines, the shared idea is just for learning on how to read & analyse charts and not recommendations of any sorts. Take it with pinch of salt :)
Enjoy & Happy Trading !
Tata communications has been consolidating above 850 levels for almost 3 years now. The script has shown good accumulation in range of 850-1500. On charts you can see Inverse Head & Shoulders formation which is a bullish pattern. First target will be the length of height of the head till neck line. Add this length height post breakout near 1375 levels, which comes around 2000 which is 40% upside. Till this script is above 1100 levels this can possibly reach 2000 first.
The targets can be revised once 2000 levels are achieved based on the momentum.
Expecting the momentum to gain in this script in coming days .
If you like this analysis and you think it will be useful to learn for others , then do follow me on Tradingview and show like the idea :)
Note: As we have strict guidelines, the shared idea is just for learning on how to read & analyse charts and not recommendations of any sorts. Take it with pinch of salt :)
Enjoy & Happy Trading !
Trade active
The script has given a confirmed breakout of the chart pattern . The next level to see is all time high above 1550+ I will review this after all time high is crossed.
Trade active
Hi All,As I said, I will review it above 1550+ levels..here I am :)
The script is nicely moving with volumes ( most important ) and still its not overbought and looking really strong on weekly charts.
If one wants to enter any dip of 4-5% from 1550 levels would be a good time to enter again . The stop loss can be trailed to 1350 levels on weekly closing basis.
Next I will review this once it crosses 1750 levels .
Happy Trading :)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.