Apollo Hospitals trend formed a Head and Shoulder pattern. The volume is high at the left shoulder and volume is low at the right shoulder. It has a breaking point below the neck line. Since it is a signal for Bullish reversal, SHORT position can be created after the price crosses the neck area. The stop loss can be from neck to the center highest top. The target can be the same amount as Risk.
Apollo Hospitals_Head and Shoulder_Bullish Reversal
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Stock Analysis
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Hi,
The formation of Head and Shoulder has been a continuous decrease in the volume. That means volume will be higher in the left shoulder and eventually it decreases with the formation of head and right shoulder. The main process of the head and shoulder pattern is accumulation and distribution. The duration to form the each should be minimum 1 month.
Thanks Naresh for the clarification. It really helps to refine my knowledge.