Recent formation of Inverse Head & Shoulders classical pattern will give a breakout by trading only above Rs 113, suggests buying in the stock for higher targets of Rs 148.
What is Inverse Head & Shoulders Pattern?
The Head & Shoulder (H&S) chart pattern is a popular and easy to spot pattern. These patterns are formed due to supply and demand dynamics in the market place. The head and shoulders pattern is believed to be one of the most reliable and popular patterns among the traders' community.
In technical analysis, an Inverse H&S pattern describes a specific chart formation that projects a bullish trend reversal.
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