Here in thi chart I have mention both entry and stop loss level at 260. please don’t mistake about it, the entry level is at 290. As the cup formation took nearly 9 months, we can expect the target to be high. But to quote the target price I have made 335 as target.
Its Reverse Head and Shoulder pattern which is accumulation pattern. And in this chart you can see huge volume at left shoulder and in the head part. The duration is 90 days and it is expected to be reverse pattern which will be bullish (long position).
I have mentioned the 2nd highest volume as high volume, because when comparing the time frame of both bottoms except one day this seems to be the reasonable high volume and it comes near the neck line.