Idea Cellular Pvt Bearish Below 166 , Stop Loss – 182 , Target – 150

[Soundharya Gnana]

Head and Shoulder pattern can be observed in this stock. The volume is highest at the Left Shoulder,then, the price goes high with receding volume and then falls with lowest volume at the right shoulder. The duration of this pattern is almost 3 months.

So, short position can be considered when the price goes below the neckline.

Entry – 166

Stop Loss –  182

Risk -16

Target – (166 -16 ) = 150

Trade Plan –  IDEA /SHORT /ENTRY – 166 /TARGET – 150 /STOP LOSS – 182

[Soundharya Gnana]

@eqsis please comment

[EQSIS]

It is correct….. Your explanations is very clear…

[Soundharya Gnana]

Ok. Thank you

[Udayarka Pakala]

Hi, I reviewed it but to reach the target it took long time, could please tell me is this pattern is valid for another 3 months to reach the target.

Thanks,

Pakala

[Author]

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