The Security has formed an Inverted Head and Shoulder Pattern.

Inverted Head and Shoulder Pattern breakout is on the upside. Currently the Securityis trading near the neckline; Security closing above the neckline would be an opportunity to enter long in the index. 70-90 point movement is expected after the breakout.

Currently the Security is trading above the EMA's indicating a short term positive movementem.RSI is supporting the move, a breakout from the neckline is seen indicating positive move.

Advice : Buy if the Index closes above the neckline in 1DAY  time frame

INVERTED HEAD AND SHOULDER

Aug 08 2022