Head and Shoulders Formation on BALRAMPUR CHINI
This script is forming Head and Shoulders formation on Daily and Weekly Timeframe.
We can initiate a short position on this script when a daily candle closes below 350 level neckline.
Stop loss for this trade can be placed above 380 levels.
1st Target: 290-300
if this major support of 290-300 is breached then we can see much more lower levels around 220-250.
Risk Reward for this Trade:
Target1 R:R- 1.5
Target2 R:R- 3.0
!!! This is not an investment advice and do your own due diligence before investing/trading on any script !!!
!!! This post is only for educational purposes and not advising anyone to trade on behalf of this trade !!!
We can initiate a short position on this script when a daily candle closes below 350 level neckline.
Stop loss for this trade can be placed above 380 levels.
1st Target: 290-300
if this major support of 290-300 is breached then we can see much more lower levels around 220-250.
Risk Reward for this Trade:
Target1 R:R- 1.5
Target2 R:R- 3.0
!!! This is not an investment advice and do your own due diligence before investing/trading on any script !!!
!!! This post is only for educational purposes and not advising anyone to trade on behalf of this trade !!!