Prakash Pipes Ltd Head and shoulder Breakout Long

10 Jan 2021

Head and shoulder Breakout
Buy at Cmp 110.85
Price Target -150
Time target- 114 Days

Price Target calculation - height from Dip to neckline 62 points move, Same move is expected after a head and shoulder breakout.
Head and shoulder breakout at 80 Points So ,80+60=150
Time Target calculation - Length of Head of Shoulder pattern which is 342 Bars. So Time target will be (length of pattern)/3 ,Hence,Time target =314/3 =114 Days

Also Two Up Flag patterns formed after Head and shoulder breakout.
Expecting a good Up move if current UpFlag pattern Gives huge positive Breakout.
Confirm Entry after current Up Flag breakout.
Fundamentally results are improving and is sounding very bullish for coming days.
Go Long

11 Jan 2021

Nota

Stock reached 20% Up in a single day, Boom!