Inverted head and shoulder formation

Panjang

CHENNAI PETRO CP (NSE:CHENNPETRO)

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NSE:CHENNPETRO CHENNAI PETRO CP

This setup is a short term scalp. The stock has formed an inverted head and shoulder pattern at the support zone. Hence we shall see this opportunity as a short term pullback move till 570.

Entry - Go long above 349 or enter when it pullbacks to 344 area.
SL - 338
T1 - 355
T2 - 360

For educational purpose.
Thanks.

Dagangan aktif

Komen:

Target 1 done

Komen:

Trailing my SL to 354 for the rest

Komen:

Target 2 done. That was a good 3% upmove for an intraday trade.

Dagangan ditutup: sasaran tercapai:

All targets done. I personally closed my entire position at 360, but the price moved sharply till 370 as mentioned earlier. Nice move.

Penafian

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