ONGC H&S Bearish below 388 SL 450 Target 250

[V.VEDANAYAGAM]

ONGC formed HEAD and SHOULDER between MAY14 and SEP 14
Volume was enormous in the left shoulder and the amount continued up to the formation of the HEAD
T he right shoulder has relatively low volume
TRADE PLAN ONGC SHORT ENTRY 388
STOP LOSS 450 ( RISK 62 )
TARGET 250 ( REWARD 138)

[Abirami Duraisamy]

Hello Sir, In H&S, the head should be high compared to both shoulders. In the attached trend, the head and right shoulder looks very near. And as per my understanding the volume at left shoulder is still not sufficient to signify the distribution.

[V.VEDANAYAGAM]

DEAR SIR /MADAM THANK you for your interest shown in verifying my practical.
AGREED that right shoulder is almost equal to the head which should not be.
AT left side I think only accumulation and the down side of head is distribution
So volume is normal as far as my understanding

[R.Durga Prasad]

SIR,actually  the time period for forming the H&S is is 3 months ,but here the time taken for forming the HEAD itself took two months which totally takes 4 months for the formation.

[V.VEDANAYAGAM]

DEAR SIR /MADAM
Thank you for the interest shown
AS far as my knowledge goes only the MINIMUM DURATION is three months and so NOT THE CUT OFF period

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