IHnS

Seems like IBulHsgFin is busy forming inverted HnS pattern. Breakout above neckline of 249.1 can offer a medium to long term positional trade. Copy book target for the pattern is placed at around 368. Stock is high beta, hence enough protection required while playing any direction.

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Many started jumping asking what happened to the view. Actually the breakout has not triggered till now. 188/174 is a major neckline support if holds one may buy few quantity probably 1/4th keeping rest for the breakout confirmation.

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Bought few quantities near 170 today. Will add more on dips in investment account. Max loss per trade is 3% in a 25 stock portfolio. Risk management is important if someone trying to buy on dips.