CNXSERVICE INDEX
INVERSE HEAD & SHOULDERS PATTERN BREAK OUT
Cmp - 25270
Index gave clear BreakOut in Weekly Timeframe.
BreakOut Level - 24784 WCB
Pattern Targets - 26900 / 29700
Pattern Invalidation Level - 22752 WCB
Buy good looking CNX SERVICE Sector stocks in dips for good upmove.
NOTE: Reliability of Head & Shoulders and Inverse Head & Shoulders Patterns are the least compared to other patterns. Especially Inverse Head & Shoulders Patterns formation after a prolonged downtrend will be more reliable than forming in uptrend. So be little cautious with the pattern while riding this sector stocks. Probability of ending up in a FAKE BREAKOUT is not ruled out.
INVERSE HEAD & SHOULDERS PATTERN BREAK OUT
Cmp - 25270
Index gave clear BreakOut in Weekly Timeframe.
BreakOut Level - 24784 WCB
Pattern Targets - 26900 / 29700
Pattern Invalidation Level - 22752 WCB
Buy good looking CNX SERVICE Sector stocks in dips for good upmove.
NOTE: Reliability of Head & Shoulders and Inverse Head & Shoulders Patterns are the least compared to other patterns. Especially Inverse Head & Shoulders Patterns formation after a prolonged downtrend will be more reliable than forming in uptrend. So be little cautious with the pattern while riding this sector stocks. Probability of ending up in a FAKE BREAKOUT is not ruled out.