Head and shoulder pattern
stock name: karnataka bank limited
Conditions for H&S Patterns are,
1. significant rally prior to H&S structure – identified – please refer the attached chart
2. Head should be highest – satisfied – the price at head is 172 which is highest in the recent time for the stock.
3. Volume at L. shoulder should be highest – satisfied – check the attached chart
4. duration to each pattern should be one month – satisfied – again check the attached chart
5. R.shoulder volume should be as low as possible – satisfied – volume at right shoulder is very low in the attached chart
6. short possition can be considered.
