BSE Long - Inverted H&S
Inv HnS breakout on daily. See neck line in orange. Since the low on 31st Mar 2023, its following a higher high, higher low pattern.
Go long with a possible target of 596, 622 and 709 (which incidentally is the target as per the depth of the head)
Stop loss - Either when the neckline breaks down, or when the previous swing high (red horizontal line) at 560'ish is taken out.
A slightly steeper stop loss might be taken in this specific case, since a lot of downward sloping lines have been taken out on 31st May and 1st June, and these might act as more supports.
Go long with a possible target of 596, 622 and 709 (which incidentally is the target as per the depth of the head)
Stop loss - Either when the neckline breaks down, or when the previous swing high (red horizontal line) at 560'ish is taken out.
A slightly steeper stop loss might be taken in this specific case, since a lot of downward sloping lines have been taken out on 31st May and 1st June, and these might act as more supports.
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