Trade ideas
ITTEFAQ IRON – ABCD Pattern + Bullish Volume SetupIttefaq Iron is forming a clean ABCD bullish continuation pattern.
BC retraced to the 50% fib, and volume confirms the structure —
63M volume at B (impulse) vs only 3-4M at C (weak pullback).
Targets:
D1 (AB=CD): 16.15
D2 (1.618 Fib Ext): 20.57
Low-volume correction + breakout from multi-year resistance increases the probability of a strong CD leg.
Invalidation: Break below C (≈8.89)
ITTEFAQ Inverted Head & Shoulder PatternAt present, the price is at right shoulder in the formation of inverted head and shoulder pattern. Based on this technical analysis, the current setup of this stock appears to offer a favorable buying opportunity at 6.60. On completion of the said pattern can lead the price towards 9 rupees. Use stop loss below 6 to manage risk as the pattern breaks if it breaks 6 rupees.







