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GUJARAT ALKALIES; Head& Shoulder Pattern Analysis

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Target for H&S Pattern is Difference between Neckline to Head, Here it is 263.

So if we deduct 263 from Neckline, It Becomes @ 414
Start Accumulation for Decent Gain.

Detailed Analysis on Chart.

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注释

LEFT SHOULDER(LS)
During an uptrend, the first peak (left shoulder) forms after supply exceeds demand,leading to a pull-back/initial retracement in an uptrend. Often, this will be the first significant retracement in the trend, which indicates a battle between the Bulls (Buyers) and the Bears (Sellers).

HEAD
After the left shoulder has formed, due to the retracement (first low of the H&S pattern), new Buyers enter the market. Bears who shorted during the retracement of the left shoulder buy back in as well, leading to the formation of the HEAD.
The new buying power combined with the shorters buying back in leads to a peak, higher than the left shoulder. However, buying power decreases as Buyers (Bulls) get exhausted, and Bears gain the upper hand again. This leads to the second low of the H&S pattern. The second low can be higher, lower or equal to the first low in the H&S pattern.

RIGHT SHOULDER (RS)
After the Head has formed, at the second low of the pattern, Buyers attempt to increase the price up to a new High (Right Shoulder). However, this time they fail as Sellers increase. The inability of the Buyers of increasing the price up to a new High (higher than Head) is for both Buyers (bulls) and Bears (sellers) both a psychological turning point. The buyers will lose confidence in reaching a higher high, and sellers gain confidence in their stance.

NECKLINE
When the right shoulder has formed, we have a complete H&S pattern. We have a third low (after the right shoulder), bringing us to the neckline of the H&S pattern.
The neckline is the last defence for buyers (bulls) to prevent a breakdown. Once the neckline (key support) breaks, a trend in the opposite direction emerges. As a result, those going long will go short, which will strengthen the reversal of the trend.

TARGET
Target for H&S Pattern is Difference between Neckline to Head. Here it is 263.
Considering that, if we deduct 263 from Point "C", It Becomes @ 414.
Expect Pull-Back / Reversal.

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注释

Made High @ 791,

View given @ 443.30, Before Monday (23/07/2018) Market Opening
+11% Till Now (within 2 Days.)

注释

Correction: "Made High @ 491.00"

注释

"Made High @ 569.00"
+28.5% in 10 trading Days.
Book PARTIAL Profit.