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Head and Shoulder is formed between 19th Jan to 06th April and right shoulder volume was very low compare to left shoulder
After the strike we could find a down trend for 3 months with avg volume
Trade plan
Symbol: Powergrid
Direction: Short
Entry Level: 143
Stop Loss: 152
Target: 134
Dear Ganesh Sir,
There should be a significant rally, prior to the formation of Head and Shoulder, indicating the trend reversal. Here the prior trend is a down trend.
Also, the Volume is not so significant on the L.Shoulder.
The volume is generally very low through out the head and shoulder structure. This low volume resembles that, the distribution has not significantly taken place. Anyhow, we have to check with Mr.Murugan Sir.
If I am wrong, please correct me sir.
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