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Head and shoulder pattern is spotted in IDEA during the months of march, April and May. Volume at the left shoulder is high with the duration of 1 month each. Volume is low at the left shoulder.
TRADE PLAN:
IDEA – Short – Entry 168, SL 202, Target 134
DEAR SIR/MADAM
IN Bear trend the STOP LOSS must be at the NEAREST resistance and hence in H & S pattern the stop loss has to be at the TOP of the RIGHT SHOULDER
So as per the chart from the ENTRY level, the scrip had already triggered the Stop loss point and moved up even before it drifts down and hence in this context, conclusions based on H & S pattern are not applicable to trade
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